New 10% deposit best buy mortgage launched by the Chelsea

Borrowers need just a 10% deposit to benefit from Chelsea Building Society's new two year fixed rate mortgage - at a best buy rate of 3.54%.

The Chelsea is maintaining its reputation for helping first time buyers take their first steps onto the property ladder with the new best buy mortgage at 90% LTV (loan to value).

Two year fixed rate mortgages at 90% LTV have fallen in the past 12 months and for most of that time the Chelsea has been at or near the top of the best buy tables for this type of product.
 
"We're committed to offering competitive products to borrowers across different LTVs, including home buyers with smaller deposits and homeowners with a smaller share of equity in their properties," said Chelsea Building Society product manager Sadie Costello.
 
"For this type of borrower, the short term fix at a market-leading rate gives them the security of knowing what their monthly repayments will be for the next two years to help them better plan their finances for the future."
 
The 3.54% two year fixed rate mortgage has a fee of £1,545. There is an offset equivalent available at 3.74%.
 
The Chelsea also offers competitive rates at 85% LTV, with a two year fixed rate mortgage at 2.94% and a five year fixed rate mortgage at 3.84%. Each has a £1,545 fee.

For more information, visit thechelsea.co.uk.