Yorkshire to reduce fees on new mortgages

Yorkshire Building Society has announced that it will cut its product fees for mortgages this week. With product fees starting at only £95 the new range will ensure that customers pay no more than £995 in product fees when taking out a new mortgage with the leading Building Society.

Describing the move as part of its continued commitment to customers, Mortgage Product Manager from the Yorkshire, Alice Leslie said that the new fees would ensure that the product range offered something for everyone.

"Here at the Yorkshire we want to ensure that our mortgage range has something for everyone and more customers can benefit from the lowest interest rates.  For example, we are offering low fee products (£95) with a slightly higher rate but additionally have incorporated products with slightly lower rates and slightly higher fees.  The benefit of this is that the maximum fee for any customer will now be £995."

So, for example if someone wants to take advantage of our lower fee of £95 on our two year fixed mortgage, they are offered a 3.49% rate - but if they prefer a lower rate, then perhaps our 2.99% with a £995 fee is more suitable for them.  In offering this range we are ensuring that all of our customers are still able to take advantage of our excellent rates which have been top of the best buy tables throughout 2011.

"We believe this reduction in fees will help all of our customers and will continue to do our best to offer customers choice so they can pick the option that best meets their needs."