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Chelsea Building Society cuts rates by up to 0.30% from tomorrow

Chelsea Building Society is cutting rates on selected mortgage products by up to 0.30 per cent from tomorrow.

The direct-only lender is cutting the rate on the five-year mortgage up to 75 per cent from 2.89 per cent to 2.84 per cent. The two-year rate up to 85 per cent LTV is being cut from 3.39 per cent to 3.29 per cent.

Both products require a fee of £1,545.

From the first-time buyer exclusive range, the rate on the two-year fix up to 75 per cent LTV is being cut from 2.99 per cent to 2.69 per cent. The rate on the two-year fix up to 90 per cent LTV is being cut from 4.49 per cent to 4.29 per cent.

The 75 per cent LTV product requires a £1,345 fee and the 90 per cent LTV product requires a £345 fee.

Chelsea Building Society product manager Sunjeev Sahota says: “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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