30 Aug 10 Year Fixed Rate – 3.99%
So the Chelsea Building Society have launched the lowest ever 10 year fixed rate. Lots of lowest ever rates seem to be hitting the headlines at the moment….not surprising really with Bank Base Rate staying put at 0.50%
On the face of it it seems like an amazing deal. What a low rate of borrowing money. It’s difficult to imagine what will happen over the next ten years, but for a good indication, just remember how much has changed for you and in the world over the last ten. Then think it through. Does it really make sense to tie into one deal (and one lender) for all that time. It might suit…it might not. If you need to leave and pay the penalty, then all saving may well be lost, and worse. Interesting though…
Chelsea BS, 3.99% Fixed until 30/11/2021,max 70% LTV, £1495 Arrangement Fee, 4.80% APR. Reverts to Chelsea Standard Variable Rate.
Note: This does not constitute advice or a recommendation, its simply commentary on new products available on the market. You should seek advice from a mortgage broker, or consider all your circumstances.
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