Clydesdale and Yorkshire Banks launch fee free mortgages

Clydesdale and Yorkshire Banks have announced the launch of a fee free mortgage offer starting next week.

The lenders will waive the £999 arrangement fee for customers switching or taking out a new mortgage before July 14.

The banks will also remove the fee – currently £599 – for first time buyers, in addition to cutting mortgage rates for those looking to get on to the property ladder.

A 95 per cent loan to value (LTV) mortgage has been reduced to 5.99 per cent and a 90 per cent LTV mortgage has been trimmed to 4.99 per cent.

Meanwhile, customers remortgaging from another lender will also have their legal or valuation fees waived.

Steve Reid, Clydesdale Bank’s retail director, said: “Our fee free mortgage offer is designed to help people find the correct mortgage to suit their individual needs without having to pay an arrangement fee.”

Five year fixed rate mortgages start at 3.79 per cent for a 65 per cent (LTV) package.