Chelsea Building Society has cut rates on all 70% LTV and 85% LTV two, three and five-year fixed rate products by up to 0.25 percentage points.

Products now include a two-year fixed rate 70% LTV mortgage at 3.19% with fees of £1,695 and a two-year fixed rate 70% LTV at 3.29% with £895 fees and free valuation and legal assistance.

Offset variants of all mortgages are also available.

Jemma Smith, the Chelsea’s product manager, said: “There is still uncertainty over how the base rate will move in the coming months and years so some borrowers prefer to fix their mortgage and avoid any surprises.

“The cuts we are making will help to keep borrowers’ repayments as low as possible and either help them on to the housing ladder or make owning their property more affordable.

“There has been a great deal of movement within the mortgage market recently as a result of falling swap rates and we are making sure customers benefit by keeping our wide range of mortgages as competitive as possible.”