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Chelsea unveils fee-free offset range

Chelsea Building Society has launched a competitive new fee-free offset range aimed at borrowers who want to reduce the upfront costs of getting a mortgage.

Mortgages in the new range, which covers a variety of LTV tiers, all include a free standard valuation.

House purchase customers benefit from £250 cashback on completion while remortgage customers get free standard legal fees.

Highlights include a two-year offset mortgage fixed at 2.09% at 65% LTV and a 2.14% two-year fixed rate offset mortgage at 75% LTV.

Richard Barker, product manager for Chelsea, said: “Offset mortgages can be a great option for some borrowers as borrowers can reduce the overall term and pay off their home loans more quickly. 

“As a mutual organisation which exists purely for the interests of its members, we have introduced this new range of fee-free offsets to reduce the upfront costs of an offset mortgage.

“We hope this will help more borrowers to consider whether an offset could be the right option for them.”

The mortgages feature no product fee and no mortgage application processing fee. They also include a free standard valuation.

A £90 mortgage fee payable on redemption of the loan applies. Legal fees on house purchase mortgages apply.

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