Chelsea announce early repayment charge (ERC) amnesty until May 31st

Mike1999

Just saw this on a buy to let blog - doesn't effect me but may be a help to some of you out there, particularly as Chelsea have been one of the worst when it comes to passing on base rate cuts http://forums.moneysavingexpert.com/showthread.html?t=1468503:

Chelsea announces Early Repayment Charge (ERC) Amnesty until 31 May 19.03.2009

Author: David Whittaker Posted on: 19 March 2009


The Chelsea have followed the example of Mortgage Express by announcing a Early Repayment Charge (ERC) Amnesty to borrowers whose mortgage is greater than 60% LTV that is redeemed before 31 May.

The Chelsea was very active in the early months of 2008 and lent on both fixed rate and discounted products.

Those looking to move away should speak to a broker to see what options are open to them today. As a general guide BTL lending won't currently go above 75%.
http://www.mortgagesforbusiness.co.uk/blogs/detail/Chelsea_announces_Early_Repayment_Charge_ERC_Amnesty_until_31_May_19032009/4005/184.aspx

samsuka

Hi,

I just called Chelsea and they said that this isn't true, and its not on their website, unfortunately.


Thanks

S