The new products, launched today 21st February 2005, include a 2 and 3 year Tracker mortgage.
Speaking about the new products Sean Scannell, Chelsea’s Marketing Communications Controller said, “We make no secret of the fact that we want to compete in every aspect of the mortgage market and this not only demonstrates our ability to react swiftly to customer demand but also enhances our portfolio of products”. He went on to say, “This represents an exciting time in the Society’s history as we have never before offered a product of this nature and as the UK’s 6th largest building society this is another positive example of our continuing efforts to reinforce our national appeal”.
Details of the new products are as follows:
Interest Rate Maximum Loan to Value Arrangement Fee Administration Fee Min/Max Loan Early Repayment Charge
Tracks Bank Base Rate for first 2 years. Rate of interest at launch date is 4.75% then reverts back to the Society’s standard variable rate (currently 6.74%)
The overall cost for comparison is 6.6% APR 95% £395 £245 £25,000/
£500,000 3% for first 2 years
0.14% above Bank Base Rate for first 3 years. Rate of interest at launch date is 4.89% then reverts back to the Society’s standard variable rate (currently 6.74%)
The overall cost for comparison is 6.4% APR 95% £395 £245 £25,000/
£1,000,000 3% for first 3 years
