The two-year fixed has a rate of 4.79 per cent until 28 February 2007. The minimum loan is £25,000 with a maximum of £350,000. The early repayment charge (ERC) is 3 per cent.
The three-year fixed has a rate of 5.09 per cent until 28 February 2008. The minimum loan is £25,000 with a maximum of £1 million. The ERC is also 3 per cent.
The five-year fixed has a rate of 5.29 per cent until 28 February 2010. The minimum loan is £25,000 with a maximum of £1 million. The ERC is five per cent.
All products have a maximum LTV of 95 per cent, an arrangement fee of £395, an administration fee of £245 and free legal fees or a £200 contribution.
Sean Scannell, marketing communications controller at Chelsea, said: “The changes make these Chelsea mortgages some of the most competitive rates currently on the market. With January not that far away, the period when most people look to review their financial situation, they will be even more in demand.”
Gordon Steyn, mortgage operations director at Thinc, said: “The products have been well received by our clients with the two and three-year fixes being top end of the market products. The only drawback is that the fees are still a little on the expensive side.”
