The new products, which will be available from Monday 23rd June, provide a choice of a fixed rate for either two or five years and are available for both house purchase or remortgage customers:
The two year deal is set at 5.99 per cent and has a fee of £1,995, while the five year product has the same rate but a higher fee of £2,495. Both products have a maximum LTV of 75 per cent.
The fee attached to these new products can be added to the mortgage loan even if the maximum 75 per cent loan to value has been borrowed.
Borrowers can overpay on their mortgage by up to 10 per cent each year if they wish to repay the fee in a shorter time than the full mortgage term.
Free legal and valuation services are also provided with these products for borrowers who are remortgaging.
Tom Girling, Yorkshire’s product manager for mortgages said: “In the current environment fixed rates on both mortgages and savings seem to be rising every week, with some borrowers finding it very difficult to afford their mortgage payments. These new products have been designed to help borrowers manage their monthly budgets and at the same time provide peace of mind from the security that their payments won’t change during the term they have chosen”.
Customers who would like details of these or any other Yorkshire Building Society mortgage can call into any of the Society’s 135 branches, call 0845 1200 100 or visit www.ybs.co.uk.
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