Chelsea has said there are no hidden charges (all fees/charges are shown in the details below).
Speaking about the new products, Sean Scannell, Marketing Communications Controller commented, “In an congested market place it is always important that the rates you offer remain competitive and these give us a very healthy position in the mortgage market”.
Details of the three new fixed rate products are as follows:
Interest Rate
Maximum Loan to Value
Arrangement Fee
Administration Fee
Min/Max Loan
Early Repayment Charge
4.99% fixed until 31.07.07 then the Society’s standard variable rate currently 6.74% The overall cost for comparison is 6.8% APR
95%
£395
£245
£25,000/ £500,000
3% until 31.07.07
5.09% fixed until 31.07.08 then the Society’s standard variable rate currently 6.74% The overall cost for comparison is 6.6% APR
95%
£395
£245
£25,000/ £1,000,000
3% until 31.07.08
5.79% fixed until 31.07.10 then the Society’s standard variable rate currently 6.74% The overall cost for comparison is 6.5% APR
95%
£395
£245
£25,000/ £1,000,000
5% until 31.07.10
