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.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

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.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week