New range of Chelsea Building Society mortgages launched

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New range of Chelsea Building Society mortgages launched

Two new Chelsea Building Society mortgages have been launched today to broaden the range of fixed rate mortgages available.

From June 3rd 2006, customers will now have an increased range of Chelsea Building Society mortgages from which to choose, including a one year and a three-year fixed rate option.

Annual interest is first paid on July 1st 2007 and annually thereafter for any of the new options available; a monthly interest option is also available if required.

The new range will mean the previous issues of the one-year tracker rate option and two-year fixed rate options will be withdrawn at the close of business on Friday June 2nd.

Chelsea Building Society stipulates, "withdrawals made before the end of each fixed rate period will be subject to a penalty equivalent to 90 days loss of interest on the amount withdrawn."

The Chelsea Building Society mortgages have been updated to offer a more competitive deal to customers; Chelsea Building Society is the sixth largest building society in the UK with assets over £9.7 billion.

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