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Chelsea Building Society mortgage review

Our Chelsea Building Society mortgage review combines customer feedback with expert deal analysis to reveal whether you should choose this lender when applying for a mortgage.

In this article
Chelsea Building Society mortgage customer ratings What kinds of mortgages does Chelsea Building Society offer? Does Chelsea Building Society offer the best mortgage deals? Interest rates on Chelsea Building Society mortgages
How much could I borrow from Chelsea Building Society? Can I make overpayments? How can I contact Chelsea Building Society?

Chelsea Building Society mortgage customer ratings

Mortgages
Chelsea Building Society review
Which? Customer Score
23rd out of 23 mortgage lenders
49%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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Part of the YBS Group, Chelsea Building Society has its origins in Chelsea, London, but is now based in Bradford, West Yorkshire. It lends mortgages for properties in Great Britain and Northern Ireland. 

The table below shows how Chelsea Building Society performed in our latest mortgage satisfaction survey.

Chelsea finished bottom in this year's rankings, with borrowers unimpressed by its levels of customer service.

Customer rating for: Star rating
Customer service

2 out of 5

Application process -
Value for money

2 out of 5

Keeping you well informed

3 out of 5

Clarity of statements

2 out of 5

Transparency of charges

3 out of 5

Query and complaint handling

3 out of 5

Ability to overpay or underpay mortgage

2 out of 5

Online access

3 out of 5

 

Star ratings based on a June/July 2020 Which? survey of 3625 members of the general public in which 63 people told us they had their mortgage with Chelsea Building Society.

What kinds of mortgages does Chelsea Building Society offer?

Many mortgage lenders have significantly cut their offerings this year due to the coronavirus outbreak.

When we checked in September 2020, there were 83 mortgages available from Chelsea Building Society. All of these were fixed-rate deals, where your interest rate stays the same for a set period of time.

In Chelsea's case, these periods were two, three, five, seven and 10 years.

 

Does Chelsea Building Society offer the best mortgage deals?

Our experts analysed hundreds of mortgages over a four-week period in July 2020. They compiled a total of 208 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 16, but Chelsea failed to feature at all, meaning it is unlikely to offer the cheapest rate on the market. (Data source: Moneyfacts.)

Interest rates on Chelsea Building Society mortgages

Chelsea's two-year fixed-rate mortgages have an average interest rate of 2.23%, compared to the overall market average of 2.33%.

How much could I borrow from Chelsea Building Society?

As of September 2020, Chelsea doesn't offer any mortgages for first-time buyers.

It lends to home movers at 75% and 85% loan-to-value, or remortgagers at 65%, 75%, 80%, 85% and 90% loan-to-value.

Chelsea doesn't publish its borrowing caps, so you'll need to contact the lender directly to find out how much you might be able to borrow in relation to your annual salary.

Can I make overpayments?

Most of Chelsea's deals allow you to overpay up to 10% of the mortgage balance each year. 

How can I contact Chelsea Building Society?

Chelsea's mortgages are only available directly, so you won't be able to get one through a broker.

Existing mortgage customers can call 0345 166 9300, while for new customers it's 0345 1200 842.

The web address is thechelsea.co.uk.

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