The free valuation promotion extends to all buy-to-let (BTL) products with Chelsea on Mortgage Times’ panel, and is available to all Mortgage Times members applying to the Chelsea online for the first time. To qualify all applications must be submitted before 31 December 2006.
The offer also includes free valuation on an exclusive student let product with a rate of 5.55 per cent to 1 January 2010. In addition there is no higher lending charge, as well as an overpay of 20 per annum and an application fee of £895. The procuration fee is 0.37 per cent (£200 minimum).
Christopher May, director of The Mortgage Times Group, commented: "We are currently writing record levels of BTL business as we offer one of the most diverse BTL propositions available on the market today.
"This deal with Chelsea adds another string to our bow in terms of the choice and quality of product that we can offer to our members, and we hope to add many similar deals in the coming weeks."
Stephen Fox, senior corporate account manager at Chelsea Building Society, added: "This deal, which offers a free valuation on any BTL product for introducers applying to the Chelsea for the first time online, shows a real commitment from both the Society and The Mortgage Times to grow both their business and their business relationship together, whilst at the same time offering an even better deal on the Chelsea's already highly competitive BTL range of mortgages."
Hugh Nichols, partner at Bradbury Berkely Mortgage Services, said: "I do not think these plans add to the exclusives offered by The Mortgage Times Group. The interest rates are competitive but the arrangement fees are very average. These plans will not set the world on fire but I am sure many brokers will use these offerings."
