The Chelsea Building Society has launched its lowest-ever three year fixed rate mortgage.

It is priced at 1.99%, available at 60% LTV.

Brendan Gilligan, Chelsea Building Society product manager, said: “Borrowers choose fixed rate mortgages to give them peace of mind and make it easier to budget for their monthly outgoings.

“The Chelsea has made a strong start to mortgage lending so far this year and we’re really pleased to be able to offer another best buy fixed rate product.

“This three year mortgage gives additional choice to homebuyers with a larger deposit, or home owners who want to remortgage and have at least 40% equity in their property.”