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Chelsea BS takes two-year fixed rates to new low with 1.89% mortgage

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  • 08/02/2013
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Chelsea BS takes two-year fixed rates to new low with 1.89% mortgage
Chelsea Building Society now offers the lowest two-year fixed rate mortgage on the market after reducing rates to 1.89%.

The direct-only lender will offer the product to borrowers with a deposit of 40%. Fees of £1,695 apply to the mortgage, which is available from today.

Chelsea BS, owned by Yorkshire Building Society, has made the move the day after ING Direct announced the launch of a 1.94% tracker product

ING will also offer the lowest five-year fixed rate product on the market with the launch of a 2.69% product, a rate that has also been matched by direct only lender First Direct after a rate cut today. Both lenders will charge fees of £1,999 on their respective products.

Yorkshire BS has also cut its two-year fixed rate product to 1.94% with fees of £1,495. Fellow direct only lender HSBC currently offers a 1.98% two-year fix.

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