Chelsea cuts rates across product range

Chelsea Building Society is making rate cuts across its product range from Thursday.

The cuts will affect selected fixed rate and tracker mortgages at 70 per cent and 90 per cent LTV while £500 cashback products are also being introduced to help purchasing and remortgaging customers.

A two year fixed rate mortgage at 70 per cent will be available at 2.74 per cent, down from 3.19 per cent and a two year fixed rate mortgage at 90 per cent will be available at the new rate of 4.24 per cent, down from 4.49 per cent.

The 2.69 per cent tracker has ben cut from 3.14 per cent

Chelsea BS product manager Sunjeev Sahota says: “We’ve cut rates across the range to make our products even more competitive. We’re also launching new cashback products, which are ideal for borrowers looking to reduce their upfront costs.

“The cashback changes have been introduced following customer feedback – as a building society, we are answerable to our members so try very hard to be responsive to their comments about the types of products that they want.”

All Chelsea Building Society mortgage products have an offset equivalent, priced at 0.20 per cent above the standard mortgage product.