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June 10, 2011 5:54 pm

More five year fixes at sub-4 per cent

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Mortgage lenders continued to cut rates on their
five-year fixed mortgages this week, with three lenders now offering
sub-4 per cent deals.

Chelsea Building Society and Yorkshire Building Society have both launched five-year deals that are below 4 per cent. Chelsea is offering a five-year fix at 3.89 per cent – the lowest rate available for those fixing for five years. It replaces its previous deal at 3.99 per cent but the lender has reduced the maximum loan-to-value from 75 to 60 per cent. It comes with a fee of £1,995.

On Friday, Yorkshire launched a sub-4 per cent deal. The 3.99 per cent rate is available up to 75 per cent loan-to-value and with a £995 fee. The Mortgage Works also has a five-year deal at 3.99 per cent, with a 2 per cent fee.

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