First-time Buyers
Chelsea BS lowers first-time buyer rates
Borrowers with smaller deposits can now take advantage of sub-3% mortgage rates at the Chelsea Building Society.
The lender, part of the Yorkshire Building Society group, has launched a 2.99% deal for borrowers who have a 10% deposit.
This product is fixed for two years and comes with no fees, free valuation and £250 cashback on the completion of the deal.
Chelsea BS has also launched another new products targeted at first-time buyers and borrowers with smaller deposits.
It has launched a fee-free mortgage at 4.34%, fixed for two years.
Brendan Gilligan, product manager at Chelsea Building Society, said the mutual was hoping to attract more borrowers with small deposits.
“We understand the issues first-time buyers can have when trying to get a foot on to the property ladder,” he said.
“This is why we offer mortgages to borrowers who have just a 5% deposit and why we always strive to make our rates as competitive as possible, particularly for this group.”