Yorkshire Building Society and Chelsea Building Society have launched new mortgage products at 1.39 per cent and 1.38 per cent for borrowers with 35 per cent deposits.
The Yorkshire mortgage has a product fee of £845 while the Chelsea offering has a product fee of £1,545.
Borrowers with 35 per cent deposits looking for a three-year fix can now get a 2.18 per cent rate, reduced from 2.34 per cent, from the Yorkshire. This includes an £845 product fee. Chelsea customers are being offered a rate of 2.14 per cent, reduced from 2.24 per cent, with a £1,545 product fee.
Other highlights from the Yorkshire’s reductions include:
- Three-year fixed term mortgage at 3.49 per cent (reduced from 3.99 per cent) with an £845 product fee for borrowers with a 10 per cent deposit
- Three-year fixed term mortgage at 2.99 per cent (reduced from 3.29 per cent) with an £845 product fee for borrowers with a 15 per cent deposit
- Two-year fixed term mortgage at 2.49 per cent (reduced from 2.54 per cent) with an £845 product fee for borrowers with a 15 per cent deposit
Highlights from Chelsea Building Society’s reductions include:
- Three-year fixed term mortgage at 3.44 per cent (reduced from 3.94 per cent) with a £1,545 product fee for borrowers with a 10 per cent deposit
- Three-year fixed term mortgage at 2.94 per cent (reduced from 3.24 per cent) with a £1,545 product fee for borrowers with a 15 per cent deposit
- Two-year fixed term mortgage at 2.44 per cent (reduced from 2.49 per cent) with a £1,545 product fee) for borrowers with a 15 per cent deposit
Clare Slater, mortgage product manager, comments: “We aim to offer our customers highly competitive rates and we believe that these rate reductions on popular LTV brackets will offer borrowers an appealing product. The reductions at 90 per cent LTV will also help some First-Time Buyers make their first step on to the property ladder.”
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