The deal, offered from today, is available up to 60% loan to value, and comes with a £1,695 fee.

There is an offset equivalent at 1.94%.

“We’re committed to providing the most competitive mortgages and are pleased to be able to offer another market-leading short term fixed rate %, which will appeal to home buyers with a larger deposit or homeowners wanting to remortgage,” said Chelsea Building Society product manager Sunjeev Sahota.

“Offset mortgages are particularly popular among Chelsea borrowers so we’re glad to be able to offer the additional choice of an offset version of such a competitive mortgage.”