The new rate has a £1,545 fee and is designed to complement the Chelsea's 1.74% 2-year fixed rate mortgage.
Brendan Gilligan, product manager at Chelsea, said: "Borrowers choose fixed rate mortgages to give them peace of mind and make it easier to budget for their monthly outgoings.
"The Chelsea has made a strong start to mortgage lending so far this year and we're really pleased to be able to offer another best buy fixed rate product.
The Chelsea also offers products for those with a smaller deposit including a 3.69% 2-year fixed rate for up to 90% LTV.
