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Chelsea launches new mortgage line

Chelsea Building Society is a launching a six per cent cashback mortgage.

The mortgage will offer borrowers 6 per cent of the loan value as a cashback lump sum of up to £24,000.

The interest rate payable is the same as the building society’s standard rate which is currently 7.8 per cent.

In addition, the product offers no requirement to pay a mortgage indemnity guarantee premium and no other compulsory insurance.

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