Yorkshire Building Society is beating all other fixed-mortgage offers currently on the UK market with a new mortgage deal at an initial rate of just 1.07 per cent.
The mortgage is fixed for two years and comes with a product fee of £1,369 at loan-to-value (LTV) of 65 per cent.
For those looking to get a lower-fee deal, the society offers a two-year fix at the same LTV with a product fee of £345 at a higher initial rate, of 1.44 per cent.
Rachel Springall, spokesperson at Moneyfacts.co.uk said: “The new 1.07% deal from Yorkshire Building Society becomes the lowest ever fixed mortgage on record according to Moneyfacts.co.uk, with the rate war ongoing this is the perfect time for borrowers to secure a low fixed rate with this popular brand.”
Mike Regnier, Yorkshire Building Society’s chief commercial officer, commented: “We are a responsible mutual lender which uses its financial strength to support its members rather than external shareholders. This means we can offer our members very competitive rates in order to enable them to buy the home of their choice.”
The Yorkshire is also offering a range of fee-free mortgages with £1,000 cashback and free standard valuation for customers who don’t want to pay upfront fees.
