Chelsea's mortgage changes

A Chelsea Building Society product story

Edited by the Insidemoneytalk editorial team Jun 4, 2007

Following on from the change in the Bank of England base rate on 10 May 2007 Chelsea announces a change to its Standard Variable Rate from 7.24% to 7.49% with effect from 1 June 2007.

A re-launch of Chelsea's Prospect (Non-conforming) range is also launched today.

Please find a summary of details below: Introduction of a new "Near Prime" category, Increase in product options, including a set of non fees assisted and fees assisted products for 2 year fixed rate, Introduction of additional rates at 75% LTV, Increase in threshold for Higher Lending Charge from 80% to 85%, Medium scheme is withdrawn, Change to arrangement fees, Prospect Buy to let LTV increased from 80% to 85%, Rename of the current Extra Light category to "Adverse" and the current Light category, renamed to "Adverse Plus".

A full PDF of the revised products can be requested from Chelsea's PR team on 01242 271466 or by emailing chelseacommunications@thechelsea.co.uk.

Customers wishing to find out more about Chelsea mortgages can contact their local branch, visit www.thechelsea.co.uk or call FREE on 0800 1690033.

Calls to the Society may be recorded and/or monitored for security, training and customer service purposes.

Intermediaries wishing to find out more about current products can call the Intermediary Helpline on 08456 07 07 08 or visit the Intermediary website at www.chelseaintermediary.co.uk.