Chelsea Building Society has unveiled a new five-year fix at 2.94%.

The brand is offering four new fixed rate 60% LTV products from today.

The products are a two-year fixed rate at 2.34%, with a £1,895 fee, and a five-year fixed rate at 2.94%, with £1,895 fee. Offset alternatives are available of each and are priced 0.20 basis points higher than the non-offset equivalents.

Sunjeev Sahota, Chelsea Building Society product manager, said: “These are very competitive rates for house buyers with larger deposits or for existing home owners who are remortgaging.

“We are always updating our range of products at the Chelsea and these new mortgages allow us to continue to offer competitive rates across all LTV levels, for customers with larger or smaller deposits, or those looking to remortgage.”