Good news for older borrowers! Chorley Building Society has launched a range of new fixed-rate mortgages, offering security and peace of mind in these uncertain times.
Long-Term Fixes for Older Borrowers
Responding to demand for payment stability, the building society has introduced two new five-year fixed rate mortgages specifically designed for older borrowers. These products are available to those aged 75 or over, either at the time of application or at the end of the mortgage term.
- 5-year fixed rate at 75% loan-to-value (LTV) – This mortgage offers a competitive fixed interest rate for five years, providing certainty over monthly repayments.
- 5-year fixed rate remortgage at 75% LTV – Existing homeowners can take advantage of this option to secure a fixed rate for five years, protecting themselves against potential interest rate rises.
Both of these mortgages are fixed until 30th June 2029, giving borrowers a reassuring seven years of predictable payments.
Focus on Customer Needs
Liz Pearson, Head of Operations at Chorley Building Society, emphasised the company’s commitment to meeting the evolving needs of its customers. She stated that the new products were launched in direct response to feedback from brokers and borrowers seeking greater rate stability.