Chelsea Building Society Introduces 10-Year Fixed Mortgage

UK lenders understand the need for long-term mortgages and start to offer such products to borrowers. One of the first lenders to introduce a 10-year mortgage is Chelsea Building Society.

Recently, the Chelsea Building Society announced the launched of an all-new 10-year fixed mortgage deal.

It comes with an interest rate of just 3.99% for borrowers with a 30% or higher deposit. The arrangement fee is 1,495 pounds, however, it can be reduced to 195 pounds provided that the borrower decides to take a rate of 4.19%.

Moreover, the lender has slashed the interest rate on its 5, 6 and 7 year mortgages. Now, they come at 3.69%. Commenting on the new product and changes to the terms of existing deals, Chris Smith of Chelsea Building Society, said: "The 5, 6, 7 mortgage has proved extremely successful since we launched this new product a month ago... so we are responding to that demand for longer term fixes by reducing the rates on the 10 year product."

You can learn more about these and other products by Chelsea by contacting the lender or using online comparison tools.

Most popular searches: first time buyers mortgages, mortgages for first time buyers, first time buyer mortgages, first time buyer mortgage, first time buyers mortgage