An Unsympathetic Lender (Chelsea Mortgage Service)

Member Name: Amyrlin

Product:	Chelsea Mortgage Service
Date:	05/08/00 (763 review reads)
Rating:

Advantages: Pays fees to switch

Disadvantages: very bad if you ever get into difficulties

Chelsea Mortgage Services are advertised on television, with the incentive of a large cash back and all fees paid, but I would think twice before swapping to this lender. They do offer competitive rates and the criteria is a little more flexible than some of the high street lenders. However, Chelsea Mortgage Services is a subsidiary of the Chelsea building society, and as such the high street branches are not a lot of help nor will you able to make any gains if the building society changes to a bank.

Once the mortgage is running as long as you do not have any hitches the rates are low, and customer services are adequate, however, if ever you run into difficulties they can be rather unreasonable, and in saying this I talk as a former debt counsellor who has dealt with them on many occasions. They will push customers to the point of harassment when payments are late. Therefore, if you want an understanding lender for if you get into difficulties, this is not the one to go for.

Summary: