Borrowers urged to look beyond headline mortgage rates

Yorkshire Building Society has a solution for those looking to sort out their finances for Christmas. Those who re-mortgage before the end of 2010 could save £1,716 over the next two years by choosing Yorkshire's new two year fixed rate mortgage at 2.89% rather than the cheapest rate on the High Street.

The product is welcome news for homeowners battling with household budgets to start the New Year on a positive financial footing. When a true cost comparison is made the Yorkshire's combination of a low interest rate, low product fee and free valuation and free standard legal service, makes it a clear winner.

Tom Girling, Product Manager for Mortgages said: "As lenders compete for the headlines, it's important that homeowners look beyond the headline rate when they choose their next mortgage. Paying high fees to secure a new deal, as well as valuation and legal fees can seriously damage a household budget."

For more information, visit ybs.co.uk.