Chelsea ups subprime mortgage rates

Wednesday, 02 February 2011 11:58

Chelsea Building Society is increasing interest rates on its non-conforming Prospect range.

From tomorrow the interest rate on all Prospect range products will rise 0.3 per cent and the maximum loan-to-value (LTV) will be cut to 65 per cent.

The building society's Adverse Plus mortgage products will also be withdrawn.

Chelsea is also extending the fixed-rate and early repayment end dates to June 1st on the Prospect rage.

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