The lender, a subsidiary of Yorkshire Building Society, said it had made a “considerable” investment into developing the offset range, which will be available direct only.
The offset mortgage range will offer a choice LTV tiers of 70%, 80% and 90%, with fixed and tracker options and terms from two to seven years.
Deals include a two-year fixed rate at 2.49%, a five-year fix at 3.39%, and a two-year tracker at base rate+1.59%, all up to 70% LTV with a £1,495 fee.
Offset is also available on the Chelsea’s tracker to fix deal.
The Chelsea said offset could help its members “maximise their savings in difficult economic times”.
Chris Smith, group direct mortgage manager at the Chelsea, said: “The Yorkshire thinks offset should be a real consideration for all mortgage holders, as competitive offset deals can have so many benefits and flexibility for people, particularly in the current financial climate.
“We are serious about offset and have invested a lot of time and energy in developing a range that offers financial benefits to most borrowers.”
He added: “This development means that we are making offset more widely available in the South where our Yorkshire branch network is less widespread, therefore offering the benefit of offset to a greater number of UK borrowers. This is a product that is as good as it sounds.”
Andrew Hagger, of Moneynet.co.uk, said: “Consumers are continually looking at ways to make their cash work harder.
“With an offset mortgage, we’re not talking about saving the odd £20 or £30 here and there; it’s a genuine straightforward opportunity to save thousands of pounds, just by being smarter with your money.”
