Chelsea cuts LTV on fixed-rate mortgages
Thursday, 20 Mar 2008 15:47
Chelsea Building Society is cutting its loan-to-value (LTV) rates on all its current fixed-rate mortgages to 90 per cent.
The move comes amid a general industry move to lower LTVs.
However, Chelsea is introducing a new line of fixed-rate products at 95 per cent LTV – with interest rates 0.2 per cent over lower value deals.
A similar move has been made with its tracker mortgages, with Chelsea cutting LTVs on existing deals and introducing higher rate deals for high LTVs.
The standard tracker rates are also increasing by 0.15 per cent.
Self-certification and buy-to-let rates are rising by 0.1 per cent and 0.15 per cent respectively.