Chelsea Building Society has announced it is now offering its ten-year fixed-rate mortgage at an interest of 3.99 per cent.
The financial services provider has also cut its five, six and seven-year products to 3.69 per cent, with changes coming into effect today (Friday, August 26th).
All of these mortgages have a loan-to-value (LTV) ratio of 70 per cent and are available across “all channels”.
In terms of fees, the five, six and seven-year mortgages cost £195 to process, while the ten-year product has a charge of £1,495.
Chris Smith, direct mortgage manager at Chelsea Building Society, said: “The five, six, seven mortgage has proved extremely successful since we launched this new product a month ago.
“The seven-year option was unique when we launched it and has been the most popular – more customers have chosen this from the choice of the three terms, so we are responding to that demand for longer term fixes by reducing the rates on the ten-year product.”
