You are here: Home - News -

Chelsea revamps products and staff

  • 15/01/2003
  • 0
The Chelsea Building Society has increased its income multiple maximums for employed, self-employe...

The Chelsea Building Society has increased its income multiple maximums for employed, self-employed and first-time buyers submitting standard applications.

Single borrowers will now be eligible for four, 3.75 or 3.25 times their income for up to 75%, 75.01%-90% or over 90% LTV respectively. Joint clients can now take 4+1 or three times joint, 3.75+1 or 2.8 times joint, or 3.25+1 or 2.5 times joint for below 75% LTV, 75.01%-90% or above 90% LTV respectively.

The society has also restructured its internal staff. Through the appointment of three general managers, eight assistant general managers and five controllers. All positions are internal promotions.

Jeremy Hicks, corporate affairs controller at the Chelsea, ex- plained: ‘We had two general managers retire at the end of last year and three people were promoted into that space as the two retiring managers had a broad range of responsibilities. This was an opportunity to refine some of those responsibilities into more distinct areas, a chance to look at our operations and ask if they could be done in a slightly better fashion.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Concerns raised over house prices indexes’ methodology

The House Builders Federation (HBF) has questioned the methodology used in the various UK house pric...