The mutual has reduced its two-year fixed rate offering from 3.19% to 2.74%, available up to 70% LTV with fees of £1,695.
A two-year 90% LTV product is available at 4.24% while the lender has also announced a new range of tracker mortgages, available from 2.69%.
The move follows a similar set of rate reductions at the end of August.
Chelsea BS has also introduced a £500 cashback offer to help borrowers move between properties.
Chelsea Building Society product manager Sunjeev Sahota said: “We’ve cut rates across the range to make our products even more competitive.
“We’re also launching new cashback products, which are ideal for borrowers looking to reduce their upfront costs.
“The cashback changes have been introduced following customer feedback – as a building society, we are answerable to our members so try very hard to be responsive to their comments about the types of products that they want.”
