All three new loans offer a fixed rate of 4.99% for those looking for fixed monthly repayments in the long-term.
15 year fixed rate mortgage at 4.99% fixed until 31.7.2020 changing to our Standard Variable Rate for the remainder of the term currently 6.79%. The overall cost for comparison is 5.6% APR.
20 year fixed rate mortgage at 4.99% fixed until 31.7.2025 changing to our Standard Variable Rate for the remainder of the term currently 6.79%. The overall cost for comparison is 5.4%APR.
25 year fixed rate mortgage at 4.99% fixed until 31.7.2030 changing to our Standard Variable Rate for the remainder of the term currently 6.79%. The overall cost for comparison is 5.1% APR.
(Based on the Cheshire’s current standard variable rate of 6.79% and a minimum loan of £25,000).
The Cheshire is also launching two short-term fixed mortgages of a period of either 3 or 5 years. The 3 year mortgage is fixed at a rate of 4.74% (6.6% APR), with the new 5 year mortgage fixed at 4.80% (6.3% APR).
Commenting on the launch of the new range, the Cheshire's marketing director, Jason Gaunt says: "The Cheshire was one of the first lenders to offer a 25-year fixed rate mortgage and we consider ourselves forerunners in this field. Offering a low rate for up to 25 years, our new range of long-term fixed rate mortgages are ideally suited to homeowners who want to be able to monitor monthly outgoings and have control over their finances.”
