New tracker mortgages from Yorkshire Building Society

Yorkshire Building Society has launched a new range of tracker mortgages, including two capped trackers starting at 5.99% for three years.

Two Year Trackers

Bank of England - 0.76% (current rate 4.99%) – Fee £2,495
Bank of England - 0.26% (current rate 5.49%) – Fee £795
Bank of England flat (current rate 5.75%) – Fee £795, re-mortgage package of free valuation, free legal package
Bank of England + 0.49% (current rate 6.24%) no fee, re-mortgage package of free valuation, free legal package or 0.30% cashback for house purchase

Three Year Trackers

Bank of England - 0.11% (current rate 5.64%) – Fee £795
Bank of England flat (current rate 5.75%) – Fee £795, re-mortgage package of free valuation, free legal package
Bank of England + 0.49% (current rate 6.24%) no fee, re-mortgage package of free valuation, free legal package or 0.30% cashback for house purchase

Three Capped Year Trackers

Bank of England + 0.24% (current rate 5.99%) Capped Rate 6.24% – Fee £795
Bank of England + 0.34% (current rate 6.09%) Capped at 6.34% – Fee £795, re-mortgage package of free valuation, free legal package

All the new products are flexible, allow overpayments of 10% a year without charge and are portable should the borrower choose to move home during the tracker period. Early repayment charges of 3% will be applied for loans redeemed during the tracker rate period.

David Holmes, spokesperson for Yorkshire Building Society said: “The new capped products allow borrowers to benefit from any future base rate reductions whilst having the security of knowing the maximum they will pay during the tracker period. However, those more confident that rates will come down during the next three years have the opportunity to choose a lower rate without the added capped feature.”