The first product is fixed at 2.99% until 30 November 2004 and includes a 1% cashback. An arrangement fee of £395 is applicable as is a redemption penalty of 6% on all capital repaid before 30 November 2008 unless it is replaced by a new Chelsea mortgage.
The second product is a three-year fix at 4.69% until 30 November 2005. The same arrangement fee is applicable and a redemption penalty of 3% applies to all capital repaid before 30 November 2005 - unless replaced by a Chelsea mortgage.
The minimum loan applicable to the buy to let mortgage has been increased to £35,000.
