Chelsea reduce mortgage rates

Chelsea Building Society has reduced its three year fixed rate mortgage to just 3.49% - the market leading rate at 75% loan to value (LTV). More good news for those with a 25% deposit is that Chelsea is offering a free valuation for all applicants and assisted legal fees for those re-mortgaging. The product fee is just £495.

The reductions continue across the fixed rate product range with lower rates on the two offerings at 85% LTV. Here, both the two year and three year deals benefit from a rate reduction.

Tom Girling, Mortgage Product Manager, said: "At a time when some indications show volatility in the housing market, we're offering the security of a fixed rate. With the anticipation of future interest rate rises, more and more people are looking for the peace of mind that a fixed rate provides."

"Around eighty percent of our mortgage applications are for a fixed rate product. With concerns about inflation and rising costs elsewhere in the household budget, fixing your mortgage at a great rate now can give piece of mind when it comes to future repayments."

Further product information can be found at thechelsea.co.uk/mortgages.