The five-year fix comes with a £1,895 fee. The society is also offering a two-year fixed rate at 2.34%. Offset alternatives are available of each and are priced 0.20% higher than the non-offset equivalents.

The products are available from today in branch, over the telephone and online.

Sunjeev Sahota, Chelsea Building Society product manager, said: “These are very competitive rates for house buyers with larger deposits or for existing home owners who are remortgaging.

“We are always updating our range of products at the Chelsea and these new mortgages allow us to continue to offer competitive rates across all LTV levels, for customers with larger or smaller deposits, or those looking to remortgage.”