Borrowers lured on to fixed mortgages | Mail Online
Lenders are cutting the cost of fixed-rate mortgages to entice borrowers to switch from cheap standard variable rate loans.
Chelsea, part of Yorkshire Building Society, has unveiled a headline-grabbing five-year fix at 3.99 per cent. It is the first time five-year fixes have dipped below four per cent in four months.
The deal is expected to be popular as the loan requires only a 25 per cent deposit or equity. Borrowers who want a long-term fixed-rate as a hedge against future interest rate rises must act fast.
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