As the day grows closer when waistlines bulge to their maximum, Chelsea has loosened the belt on a number of its fixed-rate mortgages in order to offer more attractive rates to customers.
The new products include; 2-year fixed-rate, 3-year fixed-rate and a 5-year fixed-rate and are launched on Friday 10th December 2004.
Speaking about the new products Sean Scannell, Chelsea’s Marketing Communications Controller said, “ The changes make these Chelsea mortgages some of the most competitive rates currently on the market and with January not that far away, the period when most people look to review their financial situation, they will be even more in demand.”
Details of the new products are as follows:
Interest Rate
Fixed Rate Period
Until
Maximum Loan to Value
(See note 1)
Arrangement Fee (See Note 2)
Administration Fee (See Note 3)
Min/Max Loan
Early Repayment Charge
(See note 4)
Free Legal Fees or £200 contribution+ (See note 5)
4.79%
(Typical APR
6.7%
variable)
28/02/07
95%
£395
£245
£25,000/
£350,000
3% until
28.02.07
Yes
5.09%
(Typical APR
6.6%
variable)
28/02/08
95%
£395
£245
£25,000/
£1,000,000
3% until
28.02.08
Yes
5.29%
(Typical APR
6.4%
variable)
28.02.10
95%
£395
£245
£25,000/
£1,000,000
5% until
28.02.10
Yes
+ Direct Business Only
Details of the withdrawn products are shown in the Editor’s Notes section.
Chelsea has also put back the end date on the following mortgages, this will only effect new customers and the interest rates remain the same:
Product
Previous End Date
New End Date
2 year Fixed-Rate Buy to Let
30.11.06
28.02.07
3 year Fixed-Rate Buy to Let
01.10.07
28.02.08
Prospect 3 year Fixed-Rate
01.10.07
28.02.08
