Chelsea Building Society offers very competitive 2.19% five-year fixed rate

Chelsea Building Society is reducing mortgages across its range by up to 0.40%, with a very competitive 2.19% five-year fixed rate on offer to borrowers with a 35% deposit.

The mortgage, which has a £1,545 product fee, is part of reductions across the Chelsea range, which includes reductions for borrowers with deposits of all sizes, from 35% to 5%. As well as the reduced five-year fixed rate, the Society is still offering its popular 1.24% two-year fixed rate with a £1,545 product fee.

Fixed rates available to customers with a 25% deposit include a 1.44% two-year fixed rate, a 2.09% three-year fixed rate and a 2.64% five-year fixed rate. All of these mortgages have a £1,545 product fee.

Borrowers with a 15% deposit will also benefit from the rate reductions, with the choice of a 2.24% two-year fixed rate, a 2.89% three-year fixed rate and a 3.24% five-year fixed rate, all with a £1,545 product fee.

The Society is also helping first-time buyers to get onto the ladder by reducing rates for customers with smaller deposits and on its first-time buyer exclusive mortgages.

Customers with a 5% deposit can now fix for two years at 4.29% or five years at 4.89%, with both mortgages coming with a £1,545 product fee.

The Chelsea’s range of exclusive first-time buyer mortgages have also been reduced, with the Society now offering first-time buyers with a 15% deposit a two-year offset fixed rate mortgage with a 3.09% interest rate, a £345 product fee and cashback on completion of 1% of the loan. For first-time buyers with a 10% deposit, the two-year faxed rate offset mortgage also includes 1% of the loan as cashback on completion, with a 3.94% interest rate and a £345 product fee.

Jemma Anderson, Mortgage Product Manager at Yorkshire Building Society, said: “Our priority is ensuring our customers are getting the most competitive rates we’re able to offer and helping more people to buy their own homes. We have some really good rates on offer at the moment and we would encourage anyone who’s looking for a mortgage, whether they are first-time buyers, moving home or just looking for a more competitive rate, to visit our website.”

For more information about Chelsea Building Society’s new range of mortgages, log on to thechelsea.co.uk/mortgages.