Chelsea Building Society is making rate reductions across its product range on 20 September.

Selected fixed rate and tracker mortgages at 70% and 90% LTV will be reduced, including a two year fixed rate mortgage at 70% LTV, which will be available at 2.74%.

Meanwhile, a two-year fixed rate mortgage at 90% LTV will be available at 4.24%.

For those wishing to take out a tracker mortgage, these will be available from 2.69%.

The Chelsea is introducing new £500 cashback products to help purchasing and remortgaging customers with the costs associated with moving home.

All Chelsea Building Society mortgage products have an offset equivalent, priced at 0.20 percentage points above the standard mortgage product.

“We’ve cut rates across the range to make our products even more competitive,” said Sunjeev Sahota, the Chelsea’s product manager.

“We’re also launching new cashback products, which are ideal for borrowers looking to reduce their upfront costs.

“The cashback changes have been introduced following customer feedback – as a building society, we are answerable to our members so try very hard to be responsive to their comments about the types of products that they want.”