Get mortgage peace of mind for less than £100

"Don't risk it - fix it," is the message from Yorkshire Building Society to homeowners and new buyers concerned about higher mortgage payments in the future.

And arranging a fixed rate mortgage does not have to be expensive - the Yorkshire is charging an application fee of just £95 across a range of competitive deals, including its best buy two year fixed rate at 3.49%.

Amid gloomy growth forecasts from the Bank of England, rising inflation continues to push up the cost of living. Predicted rises in utility bills in the coming months will put even more of a squeeze on hard-pressed homeowners.

So the Yorkshire is inviting borrowers to use its online mortgage checker to understand better how interest rate rises could increase their monthly payments and the potential benefits of fixing their rate for a period between two and 10 years.

Yorkshire's Group Direct Mortgage Manager Chris Smith said: "We had more Best Buy mortgages in 2010 than any other lender and want to retain that title in 2011 by continuing to look at the products we offer to ensure the best possible deals for our customers.

"Our online mortgage checker can show the increase in monthly payments that follows a rate rise so borrowers can work out the benefit of fixing their mortgage rate, to give them peace of mind about what's likely to be their biggest monthly outgoing.

"In addition, we've introduced a £95 application fee across a range of fixed rate mortgage deals to minimise the upfront costs for borrowers."