Cheapest mortgage deals are available right now

The cheapest mortgage deals, for some considerable time, are now being made available to some borrowers. Lenders like the Chelsea Building Society could offer the lifeline that current home owners need.  It is believed that many potential borrowers are anxious regarding the possibility of rising mortgage repayments.

The Chelsea Building Society is offering borrowers looking for the cheapest mortgage deal the lowest ever 5-year fixed-rate mortgage for those requiring a loan of up to 70% LTV (loan to value). Home buyers who would like the extra security of fixing their mortgage repayments are being offered rates from 3.19% or 3.39% offset. Chelsea Building Society is also set to lessen the cost of their 2-year fixed-rate mortgages for those requiring a loan of up to 85% LTV with rates of 3.44% or 3.64% offset.

It should be noted that Chelsea Building Society charges a fee for these mortgages. It is also important to establish the full cost of the mortgage to be taken out with the lender, for example the fee's charged and the rate that is set and also the duration of the mortgage needs to be fully considered by the borrower. Examining these factors and all other individual borrowers needs is vital when searching for the cheapest mortgage deal. Deal Direct have experts on hand to guide prospective borrowers through the maze of products, rates and costs associated with the current mortgage market offers.

The Chelsea Building Society's low rate mortgage offers will cause a lot of interest for borrowers searching for the cheapest mortgage deals and this will hopefully generate some improvement in consumer confidence and increased competition within the mortgage market. Thus boosting further 5-year fixed-deals and lower fees and rates with lenders expanding their mortgage product ranges and offering some off the most desirable deals for some time.