The rates changes apply to two- and five-year fixed mortgages, and two- and three-year tracker mortgages.
Brief details of the rates are:
Two-year fixed rate was 5.04% now 4.89% (the loan-to-value has been increased to 90%)
Two-year fixed rate was 5.24% now 5.09%
Two-year remortgage fees assisted fixed rate was 5.34% now 5.19%
Two-year self cert fixed rate was 5.49% now 5.34%
Five-year fixed rate was 5.39% now 5.29%
Five-year remortgage fees assisted fixed rate was 5.44% now 5.34%
Two-year tracker mortgage was Bank Base Rate (BBR) minus 0.01% now BBR minus 0.11%
Two-year remortgage fees assisted tracker was BBR plus 0.09% now BBR plus 0.01%
Three-year tracker mortgage was BBR plus 0.14% now BBR plus 0.04%
Three-year remortgage fees assisted tracker was BBR plus 0.29% now BBR plus 0.19%
Helping Hand two-year tracker mortgage was plus 0.25% now BBR plus 0.15%
Two-year self cert mortgage was BBR plus 0.74% now BBR plus 0.59%
The fixed rate end dates will be extended to 1 January.
All valuation fees across Chelsea’s mortgage range have been increased by £50, except buy-to-let two-year fixed rate mortgage at 5.14 per cent which remains a flat fee of £2450.
The Prospect range of non-conforming mortgages has also been enhanced. The scheme, which caters for people with previous financial difficulties, has been re-vamped reducing from four categories to three - Extra Light, Light and Medium. The lending criteria for the medium range has also been widened to accommodate the removal of the previous Heavy category.
In addition to the category changes the loan-to-value for self-certification mortgages has been increased to 85 per cent and all Prospect and self-certification mortgages will now include a free valuation.
These changes take effect from Saturday 7 October, with all previous rates being withdrawn as at close of business on Friday 6 October.
