Chelsea Building Society has cut the rate to two of its deals.

The Society has reduced its two year fixed rate mortgage to 1.69% for loans at 60% LTV.

For borrowers with a smaller deposit seeking a longer-term fix, the Chelsea also is cutting its five year fixed rate mortgage deal from 4.34% to 4.29% for loans at 90% LTV.

The fee for each mortgage is £1,545.

“We remain committed to providing borrowers with exceptional mortgage rates and have made these reductions to two of our most competitive deals,” said Chelsea Building Society product manager Brendan Gilligan.

“These two mortgages help to illustrate the low rates across our range, from longer-term fixed rates attractive to first time buyers to products for borrowers who have a bigger deposit or more equity in their home and can reduce their monthly repayments by remortgaging with a market-leading low rate.”