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Realistbear

Chelsea Begin Rate Hikes With An Extra Bump For B T L

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http://www.moneyextra.com/news/news-chelse...ses-023227.html

Chelsea raises mortgage SVR

Chelsea Building Society has increased its standard variable mortgage rate from 6.49%, (typical APR 6.7% variable) to 6.74%, (typical APR 7.0% variable).
The new rate comes into immediate effect for new borrowers and for existing ones from September 1st.
The Society has also announced a 0.30% increase in Buy to Let fixed rates
(excluding Prospect BTL). All other fixed rates are going up by 0.25% (including Prospect BTL).
All fixed rate and corresponding early repayment charge dates will be extended to November 30th. Meanwhile, all tracker rates have been amended to take account of the recent base rate rise.

With BTL yields already at a 5 year low the latest bump should extend the bad news to perhaps a 7 year low? More to come in November if futures markets have it pegged right. :o

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http://www.moneyextra.com/news/news-chelse...ses-023227.html

Chelsea raises mortgage SVR

Chelsea Building Society has increased its standard variable mortgage rate from 6.49%, (typical APR 6.7% variable) to 6.74%, (typical APR 7.0% variable).
The new rate comes into immediate effect for new borrowers and for existing ones from September 1st.
The Society has also announced a 0.30% increase in Buy to Let fixed rates
(excluding Prospect BTL). All other fixed rates are going up by 0.25% (including Prospect BTL).
All fixed rate and corresponding early repayment charge dates will be extended to November 30th. Meanwhile, all tracker rates have been amended to take account of the recent base rate rise.

With BTL yields already at a 5 year low the latest bump should extend the bad news to perhaps a 7 year low? More to come in November if futures markets have it pegged right. :o

Good lord. What are these ubiquitous 'ghost' development flats yielding (assuming they've actually got a tenant, which is a rather big assumption!)? What 4-5% :lol::lol: It really is laughable. They must all be relying on a capital gain - oh dear.

BTL has seemingly become a hobby now, not a money making venture.

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I think Chelsea might have been caught on the backfoot by the recent rate rise, not long ago they launched a 40 day account guaranteeing to be .60% above the base rate for 12 months. (Don't know if it is still available) It was guaranteed to increase within 30 days of any movement in rates, it was called a 40-day tracker.

I dont think they expected rates to be increased this year.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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