YBS launches 2-year tracker mortgage at 75% LTV

Yorkshire Building Society has launched a new market leading two-year tracker mortgage for loans up to 75 per cent of the property's value.  The mortgage tracks 1.75 per cent above base rate with a current pay rate of 2.25 per cent. The mortgage comes with a product fee of £995 and is available exclusively through moneysupermarket.com.

Hannah-Mercedes Skenfield, mortgage expert at moneysupermarket.com, said: "Since the start of the year we have started to see healthy competition within the mortgage market and rates on two year tracker deals have been falling since January. The new two-year Yorkshire Building Society mortgage is available exclusively through moneysupermarket.com and is the leading tracker deal for those with a deposit of at least 25 per cent.

"With many commentators saying that interest rates will remain low for at least the remainder of this year and into next year anyone taking out this product would be taking advantage of this low rate. However, bear in mind that with a tracker mortgage, your monthly payments will increase when the Bank of England base rate does start to rise. For some people a fixed rate mortgage will be a better option, even though you will initially pay a higher rate. The lowest two-year fixed rate currently available for mortgages up to 75 per cent is 2.44 per cent."