Yorkshire launches new 10-year fixed rate
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Yorkshire Building Society is launching a new 10-year fixed rate mortgage deal for 25% deposits today.
The 4.99% fixed rate is 0.3% cheaper than Yorkshire’s previous best deal and is available for all new purchases and remortgages with a fee of £995.
A similar product is also available at 5.09% for those requiring legal and valuation costs for remortgages or a free valuation and £250 cashback for moving home.
Tom Girling, product manager for mortgages at the Yorkshire says: “This product presents a fantastic opportunity for borrowers looking for long-term value, protection from future interest rate rises and piece of mind when it comes to their mortgage payments.
“This is the first time in a year that a ten-year fixed rate mortgage has been under 5% and although 10 years may seem to some like a long time to fix, the new deals are fully portable offering flexibility for those who may wish to move home before the end of the term.
“Over the last 10 years the average mortgage standard variable rate across the market has been 6.2% so our new range of 10-year products offer great value.”
