Chelsea Building Society has announced new two, three and five year and buy to let mortgage products.
New rates of 4.84 per cent for two years, 4.99 per cent for three years, 5.29 per cent for five years and 5.89 per cent for five years buy to let, came into effect on May 1.
Existing fixed rate products of 4.42 and 4.64 per cent for two years, 4.99 per cent for three years, 5.19 per cent for five years and 5.79 per cent for five years buy to let have been withdrawn.
Chelsea has also announced that Richard Hornbrook will be the new chief executive designate when Michael Bage retires. Hornbrook will take over at the beginning of 2005. He is a chartered accountant and currently director and general manager, having been at the company since 1981.
Hornbrook says: “Michael will be a hard act to follow. The society is in great shape and I consider it an immense honour to have been given this opportunity and I am looking forward to the new role.”