Mortgages
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Important Information
Due to Coronavirus and the Government Furlough Scheme we have made some changes to our lending policy which may impact your application.
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First Time Buyer Exclusive - {{product['Term']}} year {{product['Rate 1 Type'] | uncapitaliseFirstLetter:product}} {{product['Category'] | uncapitaliseFirstLetter:product}} - {{product['Max LTV']}}% LTV ({{product['New Code']}})
Additional features
- Free valuation
- Remortgage Legal service
- {{product['Cashback'] | currency:'£': 0}} cashback
Early Repayment Charges apply and other fees and charges may apply.
Important information
- Chelsea Building Society's Standard Variable Rate is set independently of Yorkshire Building Society's Standard Variable Rate. This is because Chelsea Building Society is operated under its own brand and with its own products and services. As a result, Chelsea Building Society's Standard Variable Rate may be different from Yorkshire Building Society's Standard Variable Rate at any time and can vary upwards or downwards from time to time.
- Our mortgages have limited availability and may be withdrawn at any time.
- Applications subject to standard lending criteria and all loans subject to status.
- We cannot accept applications if the mortgage term you are requesting extends beyond your intended retirement date.
- All our mortgage products are available on a capital and interest (repayment) method only.
- You have the right to repay the loan either partially or in full during the term of the loan.
- Early Repayment Charges and other fees & charges apply.
Need help with mortgage definitions?
If you are unclear what something means, our Mortgage glossary can help.
Is a Tracker mortgage right for me?
- Tracker mortgages track the Bank of England Base Rate (a variable rate of interest) over a specified period of time.
- As the Bank of England Base Rate is variable this means that it can go up or down during the term. The interest rate of your mortgage would also increase or decrease in line with the Base Rate affecting your monthly repayments in the same way.
- A minimum rate of interest, referred to as a 'collar' or 'floor' is applied to our Tracker products, meaning that in the event that the Base Rate falls, the interest rate you pay also falls but won’t go below this minimum rate of interest.
- A maximum rate of interest if applied to a Tracker product is called a “cap”. This means that if the Base Rate increases, the interest rate you pay will not go above this maximum/cap.
- With Tracker mortgages, you need to make sure you are happy to accept the risk that your mortgage payments would increase in the future if the Base Rate rises.
Alternatives to Tracker mortgages
Fixed rate
Fix your interest rate, so it won’t change over a set period of time, regardless of what is happening to interest rates elsewhere.
Offset
Use your savings to offset against the balance of your mortgage and reduce the interest you pay.
How much can I borrow?
Use our borrowing calculator to get an estimate of how much we could lend to you.
Takes approximately 5 minutes to complete
Your questions answered
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