Yorkshire Building Society launches new range of fixed rate mortgages

Yorkshire Building Society is launching a new range of fixed rate mortgages from Friday 15th December.

The new products include a best buy 10 year fixed rate at 4.95%, which is available to all customers whether they are moving house or just moving their mortgage to the Society. This rate is available for loans up to 95% of the property value and has a £595 fee. As with all Yorkshire mortgages, interest is charged on a daily basis, ensuring borrowers get immediate benefit of all payments when they are made, and it is fully portable should the borrower move house during the fixed rate period.

Other new products to be launched include:

2 year fixed rate at 4.99%

3 year fixed rate at 4.99%

5 year fixed rate at 5.09%

All the above rates are available up to 95% of the property value for house purchase and include a £595 fee, however Yorkshire borrowers can choose any fixed rate mortgage on a fee-free basis with a higher fixed rate.

David Heshon, Product Development Manager Mortgages and Planning said,” Reports from the branch network indicate that there is an increasing demand for longer term fixed rate products. To be able to fix for 10 years at a rate below 5% will inevitably mean that this product will be in big demand.”