The mutual has cut rates for its 90% loan to value loans and has also reduced them on its two-year and three-year fixed rate offset mortgages to 4.44% and 4.59% respectively.
The fees on the products have also been cut and lower fee options have been introduced.
Jemma Smith, product manager at Chelsea, said: “The Chelsea is the only lender to offer offset alternatives across its full mortgage range, priced just 0.2% higher than the non-offset mortgages.
“While the Bank of England Base Rate remains at its historic low, offset mortgages can give much higher returns than equivalent savings account and, at the same time, reduce the monthly payments or mortgage term, saving borrowers potentially thousands of pounds in interest.”
