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Yorkshire Building Society launches sub-1% mortgage

Written by: Shekina Tuahene
Yorkshire Building Society has launched sub 1% mortgages for borrowers requiring up to 75% loan-to-value (LTV).

There is a two-year fixed rate of 0.95%, available at 65% LTV. There is also a two-year fixed rate of 0.97% which is available at 75% LTV.  

Both products have a fee of £1,495 and are open to remortgagors and home movers. 

For borrowers who want to fix for longer, there is a 1.30% deal at 65% LTV with a fee of £495 and £250 cashback incentive. The mortgage also comes with a free standard valuation. 

Homeowners looking to remortgage will also get free remortgage legal services included. 

The mutual has also launched a seven-year fixed rate of 1.60% at 65% LTV. This has a fee of £495 and a free standard valuation. This is available to both home movers and remortgagors. 

Ben Merritt, senior mortgage manager at Yorkshire Building Society, said: “We’re really pleased to add these latest deals, which include our lowest rates for a number of years, to our mortgage range to give borrowers more competitive choice when financing their home.

“With many homeowners and buyers keen to take advantage of the current low rate environment we’ve strengthened both our short and longer-term deals with a variety of options suited to varying borrower needs, including no and low fee mortgages, and those with additional features such as cashback and free standard valuation.” 

The society is the latest lender to offer a mortgage with an interest rate of below 1%. Both HSBC and Halifax have launched sub-1% deals in the past month.

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