Yorkshire Building Society cuts mortgage rates and halves fees

Yorkshire Building Society has this week cut up to 0.50% off many of its fixed rate mortgages and at the same time halved the arrangement fee for these products from a standard £995 to only £495.

The new range, which is available to both borrowers who are moving home and those just moving their mortgage, offers a choice of two, three, five and 10 year fixed rates up to 90% of the property price. In addition, re-mortgage borrowers selecting one of the new products can also benefit from free legal and valuation costs.

Tom Girling, Mortgage Product Manager at the Yorkshire Building Society said: "Despite no changes to the Bank of England base rate over the past few months, we have seen swap rates fall and we're keen to pass these reductions on to our borrowers with these latest rate cuts. We have also recognised that many borrowers are looking to minimise the cost of taking out a mortgage, so we have responded to this and halved the arrangement fee on a number of products in our range.

"We offer a comprehensive choice of mortgages with rates, fees and deposit levels to suit different circumstances, meaning borrowers choosing the Yorkshire for their mortgage will be able to tailor their loan to suit their individual circumstances."