Chelsea cuts rates by up to 0.30%

Chelsea Building Society is boosting the competition in the mortgage market by cutting rates on selected products across its mortgage range, with the largest reductions on first time buyer mortgages.

Related topics:  Mortgages
Amy Loddington
28th March 2013
Mortgages
From Friday 29th March Chelsea is reducing rates by up to 0.30%.

The new range will feature a competitive five year fixed rate at 2.84% at 75% loan to value, with a £1,545 fee, and a two year fixed rate at 3.29% up to 85% LTV with a  £1,545 fee.

Chelsea has a range of mortgages available exclusively for first time buyers, which are also being cut.   For example, a 90% LTV two-year fixed rate is available at 4.29%, with a £345 fee.  Also, the 75% LTV two-year fixed rate will be cut to 2.69%, with a £1,345 fee.  

To help first time buyers with the upfront cost of buying their first home all of Chelsea’s first time buyer exclusive products come with cashback of 1% of the value of the loan.

Chelsea Building Society product manager Sunjeev Sahota commented:

 “We are listening to our customers and continually assessing our product range to offer competitive deals for those with both a small or large deposit.”

“The new deals we are introducing will give borrowers across the full spectrum of LTVs more choice when looking for the best deal for them.”
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