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Chelsea launches lowest ever five-year fixed rate mortgage

Chelsea Building Society will today launch the cheapest ever five-year fixed mortgage at a rate of 3.39 per cent.

According to the Financial Times, the deal is available to homeowners with a deposit of 30 per cent or more, and comes with an arrangement fee of £1,495.

The Chelsea offering is 10 basis points cheaper than the next best rate of 3.49 per cent offered through Chelsea parent company Yorkshire Building Society, according to reports.

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