Yorkshire Building Society cuts mortgage rates

Monday, 11 January 2010 12:00

Yorkshire Building Society has today unveiled its lowest ever fixed-rate mortgage, which is being offered at 3.19 per cent.

The one-year deal is available for customers who need to borrow up to 75 per cent of their property's value.

It is being launched as the building society slashes up to 0.6 per cent off rates across its current mortgage range.

And it also comes as Yorkshire introduces a new 60 per cent loan-to-value (LTV) two-year fixed rate product from 3.59 per cent.

Iain Cornish, chief executive of Yorkshire Building Society, said it was taking the opportunity boost mortgage applications as there appeared to be signs of an increase in activity in the housing market.

He added: "These new deals, along with products we recently launched for first-time buyers, will be warmly welcomed by those looking for a good deal in the New Year."

Highlights of the new lower rate products include a two-year fixed-rate deal at 3.79 per cent which has benefited from the full 0.6 per cent decrease. This comes with a £495 fee.

There are also three, five, ten-year fixed rate deals available with cut rates for customers with LTVs of 75 per cent. And cuts have also been made on Yorkshire's 85 per cent LTV fixed-rate range, as well as its two-year tracker.

The one-year fixed-rate deal at 3.19 per cent comes with a fee of £195.

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