New fixed mortgages from Chelsea

24 May 2004
Chelsea Building Society has announced the introduction of a range of new fixed rate mortgage products.

The new range is already in effect, having started on Saturday May 22nd, and will replace the existing fixed rate mortgage products.

The range includes a two, a three and a five-year fixed rate mortgage; and a five-year fixed rate buy to let mortgage.

The two-year scheme has a fixed interest rate of 5.29 per cent, compared with a typical APR of 6.4 per cent. The three-year sits at 5.39 per cent, and the five-year is fixed at 5.54 per cent.

The arrangement fee on all the products is £345, and there is an administration charge of £245. Legal fees, on the other hand, are free on all three products.

As for the five-year buy to let mortgage, the fixed rate is 5.99 per cent over the period. While the administration fee remains the same as the other products, the arrangement fee is slightly higher at £395.