Chelsea unveils low-fee mortgage range

Chelsea Building Society has launched a range of fixed rate mortgages with £495 fees available to homebuyers and remortgagers. The lender is offe

Chelsea Building Society has launched a range of fixed rate mortgages with £495 fees available to homebuyers and remortgagers.

The lender is offering a 1.64 per cent two-year fixed rate product for borrowers with a 25 per cent deposit.

For those looking to fix for five years, options include a 1.79 per cent fix at 65 per cent LTV or 1.99 per cent deal at 75 per cent LTV.

The building society’s products are only available on a direct-to-customer basis.

Richard Barker, mortgage product manager at Chelsea, said: “Mortgage rates remain low, and we want to ensure those borrowers seeking to pay lower fees continue to have access to competitive deals.

“A lot of borrowers are attracted to a headline low rate, but our new low-fee range could work out to be more cost-effective taking into consideration the amount you borrow, which is something our specialist mortgage advisers can help with.

“Our new offerings may also appeal to those who want to minimise their upfront mortgage costs before they move into their new home.”

Adam Reeves, director at West Sussex-based Reeves Financial, said: “It is an attractive range – a competitive rate and one to watch out for.”

simon.allin@ft.com

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