Chelsea reduces mortgage rates

25-Oct-2006

First time buyers looking to invest may benefit from recently announced interest rate reductions by Chelsea Building Society.

Chelsea Building Society has reduced the fees associated with its range of fixed-rate buy-to-let mortgages, potentially allowing first time buyers to consider making their first property purchase on an investment basis.

The mortgage provider has reduced its standard two-year fixed-rate package by 0.15 per cent to 5.3 per cent, while Chelsea's two-year fixed-rate package, with a "flat valuation fee" has been reduced from 5.14 per cent to 4.99 per cent.

"Our new fixed-rate is one of the best deals around," said Andy Paddock, mortgage product development manager at Chelsea Building Society.

"By continually reviewing our mortgages, we ensure that our customers aren't just getting an eye catching rate," he added.

Furthermore, Chelsea Building Society has announced the introduction of two new buy-to-let tracker mortgages, with interest rates of -0.02 per cent and +0.29 per cent.

To find out more about this mortgage, contact a good mortgage broker.

To find out how to get onto the property ladder by buying to let somewhere else click here.

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