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Derbyshire launches ten-year fixed rate mortgage

Derbyshire Building Society has launched a new ten-year fixed rate mortgage with a rate of 5.24 per cent until 2012.

With an APR of 5.70 per cent it says this is among the best longer term fixed rates on the market.

On the new product Derbyshire is waiving the mortgage valuation fee, interest is calculated daily and there are no early repayment charges after the fixed rate period. The mortgage is also fully portable.

The maximum loan to value is 80 per cent and there is an application fee of £195 for qualifying existing members and £295 for other applicants.

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