You are here: Home - Mortgages - First Time Buyer - News -

Yorkshire BS launches market-leading two-year fix below 1%

0
Written by: Heather Greig-Smith
16/03/2017
Yorkshire Building Society is launching its lowest ever fixed-rate product – a 0.99% two-year mortgage.

The mortgage will be available from Friday 17 March to remortgage and home purchase customers borrowing at 60% loan-to-value (LTV). The product features a £1,495 fee.

It is the first time the building society has offered a fixed-rate mortgage of less than 1% and is currently the only fixed rate below 1% available in the market.

The rate accompanies Yorkshire’s tracker mortgage, which also holds the lowest market rate. The 65% LTV two-year discounted standard variable rate (SVR) mortgage, which tracks the Yorkshire’s SVR, currently has a rate of 0.98%.

James Farrow, Yorkshire Building Society senior mortgage manager, said: “We have seen fixed mortgage rates creep up gradually in recent months so seeing it fall to 0.99% is very welcome news for borrowers.

“We always seek to keep the cost of borrowing as low as possible and offering the lowest fixed-rate mortgage in our 152-year history clearly reflects that.”

Rachel Springall, finance expert at Moneyfacts.co.uk, said: “This brand new market-leading two-year fixed mortgage from Yorkshire Building Society is likely to delight borrowers hoping to take advantage of a competitive fixed rate with a trusted brand.

“It also has some flexibility by allowing overpayments and borrowers would be wise to take full advantage of this to reduce the mortgage term. As with any deal, it’s important that borrowers work out the overall true cost to see if it’s the best possible choice for them.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

After an award-winning health insurance provider?

Winner of best online health care provider in the YourMoney.com Awards 2015

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

Guide to valuations and surveys

Do you need a vanilla valuation or a survey with a fringe on top? Martyn Stones explains the different types o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Bank of England
UK interest rates held at 0.25%

Exactly eight years on since the Bank of England reduced interest rates to under 1%, they were today held at...

Close