The Chelsea Building Society

cruzier

Hi guys, I just wanted to give a review of the Chelsea Building Society.

As with many of us, I do not have a great credit history (several defaults), missed mortgage payments etc.

In May this year, my current mortgage fixed rate ended and my payments went from £428/mo to £679 with a rate of 8.9%.

Due to my credit problems and being self-employed, no one would offer me a mortgage. Then I came across The Chelsea, which stated it offered mortgages for people with poor credit.

Two weeks ago, I received my Mortgage Offer and my payments for my mortgage will now be £539 per month which is over £100 per month saving.

Their product fee was perhaps slightly high (£995), however, they have offered me Mortgage Repayment Protection for two years free.

So I just wanted to say a big thanks to The Chelsea for understanding that our pasts is in fact that and my ability to pay now is different.

Please let me know if anyone else has gotten a mortgage with them.

Chris.

Sammy_Girl

Hi Chris,
Did you go through a broker or direct?
Many thanks

susieh_2

Hello,

Yes we have a mortgage with them, its a new mortgage as we were renting & had been discharged from B/R in Dec 2004. Rate is 6.49 fixed for 2 years. I found them very helpful & we also got the free 2 years mortgage protection.

We dealt directly with them.

Susieh

Dan_Collins_2

They are fairly good. They never seems to have a top 5 product for mainstream, they stick to what they know and are good at it.

I have used them a lot over the years and would have know probs, although it was not that long ago when they had massive service issues.

minimike2

Ive done a couple with them recently. Found them to be really good. Just a shame they are a bad offender for dual pricing.

cruzier

Sammy_Girl wrote: »

Hi Chris,
Did you go through a broker or direct?
Many thanks

Hi, no I went directly through their Mortgage Sales.

cruzier

minimike2 wrote: »

Ive done a couple with them recently. Found them to be really good. Just a shame they are a bad offender for dual pricing.

Hi minimike2, how do you mean by 'dual pricing'?

minimike2

They dont offer all thier rates that they sell direct to brokers.

They allow us to sell one or two discounted rates, no fixed rates....they keep all those to sell directly themselves only. Which is a shame as they are pretty decent.