The rates on offer on all the 5,6 and 7 year mortgages include 3.99% at 70% LTV, 4.89% at 80% LTV and 5.39% at 90% LTV.
All deals are available direct-only and come with a fee of £195 and £500 cash back.
Chris Smith, mortgage manager at Chelsea, said: “We believe that this addition to the Chelsea range gives our members much more choice when they are taking out a mortgage with us.
“Customers can decide how long they wish to fix their mortgage payment for which can be a big help when the economy is looking rather gloomy. By allowing them to choose extended terms we can offer some stability for those who wish to know what their monthly outgoings are going to be for the longer term.”
Michelle Slade, spokesperson for financial information firm Moneyfacts.co.uk, described the new range as a good alternative to regular fixed rate mortgages She said: “I believe this product will be well received by customers as it gives them a lot more freedom when choosing their mortgage as well as offering a low fee and cash-back offer.
“Within the mortgage market currently many customers are unsure about whether they should fix, or whether they should stick to a tracker. These new products from the Chelsea will allow customers to consider both options and will be seen as a good alternative by many.”
In April last year, Yorkshire and Chelsea building societies merged, however Chelsea has been retained as a separate and distinct brand within the Yorkshire group.
