Chelsea reduces fixed rate mortgages

Nia Williams

January 11, 2010

The first offers an interest rate of 3.75%, fixed until 28 February 2012. After this time the rate will revert to Chelsea’s standard variable rate for the rest of the mortgage period, currently 5.79%. The overall cost for comparison is 5.6% APR.

The second offers an interest rate of 3.94%, fixed until 28 February 2012. After this time the rate will revert to Chelsea’s standard variable rate for the rest of the mortgage period, currently 5.79%. The overall cost for comparison is 5.7% APR. This product also helps with those up-front costs, offering free valuations (on both new purchases and remortgages) and assisted legal fees on remortgages (subject to qualifying conditions).

“We’re delighted to be able to offer these competitive fixed rate deals,” said Andy Paddock, Chelsea’s mortgage product manager. “These products address the two main needs of borrowers: a good rate and the option of help with those up-front costs.”

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