The new product is available direct-only from today. It is on offer up to 60% LTV with a fee of £1,695. This new product undercuts HSBC’s headline rate of 1.79% which was launched last weekend.
“We’re committed to providing the most competitive mortgages and are pleased to be able to offer another market-leading short term fixed rate,” said Chelsea Building Society product manager Sunjeev Sahota.
“The Chelsea has made a strong start to mortgage lending in 2013 and now we’ve reduced what was already an excellent best buy product by a further 0.15%, which will appeal to home buyers with a larger deposit or homeowners wanting to remortgage.
“Offset mortgages are particularly popular among Chelsea borrowers so we’re glad to be able to offer the additional choice of an offset version of such a competitive mortgage.”
Its sister brand, Yorkshire Building Society, has also made changes to its sub-2% two-year fixes, reducing fees by £150 on two of its products.
It will now offer a 1.79% mortgage with a £1,345 fee and a 1.89% product with a £845 fee, both available up to 60% LTV.
