History

Chelsea Building Society was established in 1875 as the London & Camberwell Building Society. Three years later, the Borough of Chelsea Permanent Building Society was also formed. Over the next few decades both these societies were involved with other mergers until December 1966, when they both amalgamated and created a new society named Chelsea and South London Building. This name remained in effect until 1971 when it was changed to the Chelsea Building Society.

In 1988, Chelsea merged with the City of London Building Society, retaining the name of Chelsea. Then in Feb 2007 they acquired the Britannia Capital Securities which was a medium sized independent firm of Secured Loan and Mortgage brokers in the UK. This allowed Chelsea to expand their lending portfolio.

In December 2008, the Chelsea Building Society merged with the Catholic Building Society and this merger meant the demise of the Catholic Building Society name. In December 2009 Chelsea then announced a merger with Yorkshire Building Society and that was complete in April 2010.

By 2009, Chelsea had grown its assets to in excess of £14 billion making it the country's 5th largest building society. It had 35 branch offices mainly in southern England, although the direct savings and mortgage facilities meant that it could truly be regarded as a national building society.

Chelsea's growth over recent years has been founded on providing good value products, backed up by a high quality personal service. This has enabled it to fulfill the mission of helping people own their home and achieve financial security. The Society is very proud of the fact that the majority of its lending is supported by money saved by members.

On 1st April 2010 Chelsea merged with Yorkshire Building Society, the UK's second largest building society. Following the merger Chelsea retained the Chelsea Building Society brands and continues to offer a full range of financial products to new and existing customers.

They have over 34 branches and over 90,000 members. Chelsea is the country's sixth largest building society and has assets in excess of £8.9 billion. As a building society they don't need to answer to external shareholders. Their priority is and always will be with their members.

Remortgages offered through the Chelsea Building Society

Chelsea Building Society offers the following types of remortgages:

• Buy to Let Fixed - your mortgage will be fixed at a set rate. After the fixed period has finished your rate will revert to the Bank base rate plus a set charge. The maximum loan is 85% LTV. There is an early repayment charge during the fixed rate period. A completion fee is payable.
• Buy to Let Flexible Tracker - your mortgage is set according to the Bank base rate plus a charge for a set period. After the flexible tracker period has finished your rate will revert to the Bank base rate plus a higher charge. There is also a mortgage product that tracks the Bank base rate for the entire term. The maximum loan depends on which flexible tracker product you choose. There is an early repayment charge. A completion fee is payable.
• Self Certification - these products are only available for the self employed. You can choose between fixed, discount flexible and flexible self certification mortgages:
• Fixed - your rate will be fixed for an agreed period. After this your mortgage will track the Bank base rate plus a charge.
• Flexible Discount - your mortgage is set according to the Bank base rate plus a charge for a set period. After the flexible tracker discount period has finished your rate will revert to the Bank base rate plus a higher charge.
• Flexible Term - your mortgage is set according to the Bank base rate plus a charge for a term of your mortgage.The maximum loan depends on which self certification product you choose. There is an early repayment charge. A completion fee is payable. You will need to have been self employed for at least 1 year.
• Full status products - you can choose between two flexible tracker products:
• Flexible - your mortgage is set according to the Bank base rate plus a charge for an agreed period. After the tracker period has finished your rate will be set at the Bank base rate plus a higher set charge.
• Flexible Term - your mortgage is set according to the Bank base rate plus a charge for a term of your mortgage. The maximum loan depends on which full status product you choose. There is an no early repayment charge. A completion fee is payable. Minimum period of employment is 3 months.

If you are interested in a mortgage quotation including those offered by the Chelsea Building Society please complete their quick enquiry form.