YBS sees 400% increase in mortgage applications

Yorkshire Building Society has seen a 400% increase in mortgage applications during the first three months of 2010 compared to the last three months of 2009.

Tom Girling, Mortgage Product Manager at the Society commented: "We have started 2010 at a fast pace and have been quick off the blocks to launch new products and to cut rates. So far this year we have received over 350 best buy mentions in the national press for our mortgage products and we have seen a large increase in applications as a result."

Some of Yorkshire's current best buys:

3.09%, 2 year fixed, up to 60% LTV, £1,195 fee
4.49%, 2 year fixed, up to 85% LTV, £495 fee
4.69%, 5 year fixed, up to 75% LTV, £495 fee

In January the Yorkshire continued to support first time buyers by offering competitive products up to 85% LTV with 1% cashback, no upfront fees and free valuation and legal fees.  February saw the launch of three new first time buyer mortgages with £500 cashback and no upfront fees and in March the Society continued its run of market-leading products with the launch of its lowest ever mortgage rate of 2.99% (up to 50% LTV) for a two year fixed rate mortgage targeted at the four in ten mortgage borrowers who own more than half of their home.