YBS launches new fixed rate mortgages

As inflation costs rise, Yorkshire Building Society is launching two new mortgages to help borrowers who want to fix their monthly mortgage payments as low as possible.

The new products, which will be available from Monday 23rd June, provide a choice of a fixed rate for either two or five years and are available for both house purchase or re-mortgage customers:

Term: 2 years
Fixed Rate: 5.99%
Fee: £1,995
Max loan to value: 75%

Term: 5 years
Fixed Rate: 5.99%
Fee: £2,495
Max loan to value: 75%

The fee attached to these new products can be added to the mortgage loan even if the maximum 75% loan to value has been borrowed. Borrowers can overpay on their mortgage by up to 10% each year if they wish to repay the fee in a shorter time than the full mortgage term.

Free legal and valuation services are also provided with these products for borrowers who are re-mortgaging.

Tom Girling, Yorkshire's product manager for mortgages said: "In the current environment fixed rates on both mortgages and savings seem to be rising every week, with some borrowers finding it very difficult to afford their mortgage payments. These new products have been designed to help borrowers manage their monthly budgets and at the same time provide peace of mind from the security that their payments won't change during the term they have chosen".

Customers who would like details of these or any other Yorkshire Building Society mortgage can visit ybs.co.uk.