Chelsea to cut more mortgage rates

Chelsea Building Society is ending the year as competitively as it started by cutting more of its mortgage rates.

The Society has revealed it will be cutting rates on a number of its fixed rate 75% LTV mortgages by up to 0.20%.  The Chelsea is also helping those with a smaller deposit by cutting rates on its 90% LTV range by up to 0.30%.

The new deals include:

75% LTV two-year fixed rate deal at 2.49%, with a £1,695 fee
90% LTV two-year fixed rate deal at 3.89%, with a £1,495 fee

The Society is also launching £500 cashback incentives on two-year fixed rate products at 75%, 85% and 90% LTV.  These include:

75% LTV two-year fixed rate deal at 2.94%, with an £895 fee
85% LTV two-year fixed rate deal at 3.99%, with an £895 fee
90% LTV two-year fixed rate deal at 4.19%, with an £895 fee

The cashback incentive on the new products is to help new homeowners manage the upfront costs that come with a new mortgage.

"The New Year is the perfect opportunity to start thinking about reducing your mortgage payments for the rest of the year," said Chelsea Building Society Product Manager Sunjeev Sahota.

"We've reduced rates across 75%, 85% and 90% LTVs, so whether you have a small or a large deposit you can take advantage of the new deals.

"We want to give borrowers a helping hand so throughout the year we have continued to offer very competitive products and be a fixture in the best buy tables which we will continue to do into the new year and beyond."