Chelsea BS record low five-year fixed mortgage deal at 3.19% | Mail Online

Chelsea BS record low five-year fixed mortgage deal at 3.19% | Mail Online

Five-year fixed mortgage rates have hit a new record low, with Chelsea Building Society launching a new deal at just 3.19 per cent and potentially signalling a new battle to offer homeowners cheap cash.

But borrowers should be warned the super low rates continue to only be available to those lucky enough to have a sizeable chunk of equity or big deposit saved up.

The Chelsea deal is for homebuyers looking to borrow up to 70 per cent of the property’s value and even though the headline rate is the lowest ever offered, it does, however, come with a large product fee of £1,495.