Chelsea Building Society has announced the addition of a lower loan-to-value (LTV) product to its range of mortgages.
The institution is launching a two-year mortgage at 1.99 per cent for 60 per cent LTV, which has an equivalent offset at 2.19 per cent. Both offerings are fixed until April 2015 and they come with a £995 valuation fee.
Sunjeev Sahota, product manager of the Chelsea Building Society, said the new rates are “superb” and the lowest short-term fixed products the firm has rolled out.
“Whether buying a home or remortgaging, borrowers can be confident that these fixed rates give them the security they need at a fantastic rate,” she added.
According to the expert, the new product is also ideal for consumers who are looking to remortgage their property in order to bring down the cost of their repayments.
Chelsea Building Society – which merged with Yorkshire Building Society in 2010 – also boasts a five-year mortgage, which offers 4.39 per cent at 90 per cent LTV and is fixed until April 2014, with a valuation fee of £1.695.
