Yorkshire Building Society launches new mortgage range

Yorkshire Building Society has launched a new range of mortgage products which start at just 3.99%.

The new range offers 2, 3, and 5 year fixed rate products with 60% and 75% LTV versions available in branch, by telephone and on the internet. 85% LTV products are also available via the branch network and by telephone.

All the range is available with offset facilities and all offer a choice of incentives. A £250 cash-back can be taken on the 2-year products, which is paid in to the offset savings account, or for remortgage borrowers the option of a free standard valuation and free legal service is offered.

The range is headlined by the offset two year fixed rate 3.99% product, available up to 60% Loan to Value. In common with the rest of the range it has an application fee of £495, of which £195 is payable on application and is non-refundable. No application fee is payable for the First Time Buyer and FreshStart (YBS's unique Divorce Mortgage) mortgages.

Tom Girling, Mortgage Product Manager at the Yorkshire said: "With this new range we have been able to offer an offset option on our two year fixed rates at no additional cost. There is growing awareness of the benefits of offsetting in reducing the overall cost of a mortgage. With interest rates remaining at extremely low levels there is now the opportunity to keep the overall cost of a mortgage down and pay less tax at the same time. Another factor to take in to consideration is that with savings rates falling recently it has increased the attractiveness of using an offset account to save on mortgage interest. Whilst our two year products are all available with the offset facility, there is no obligation to use this, so these products are still ideal for those customers with little or no savings."