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Yorkeshire reduces three-year fix

The rate for borrowers moving home has reduced from 5.39% to 5.10%, currently the cheapest three-year deal available.

The society&#39s three-year fixed rate for borrowers who are just moving their mortgage has been reduced from 5.69% to 5.15%.

The arrangement fee for both these mortgages has been maintained at £495. As with all Yorkshire mortgages, in addition to other flexible features unlimited overpayments are permitted without any penalty charges. Accident, sickness and unemployment cover is also offered free of charge for the first six months.

Early repayment charges are only applicable if full redemption occurs during the fixed rate period.

The society also offers home-movers and remortgagors who do not want to pay a mortgage arrangement fee and require assistance with their legal and valuation costs a three-year fixed rate mortgage at 5.89%.

Rachel Court, head of mortgages at Yorkshire, says: “The movements in the money market rates following the Bank of England&#39s decision to leave base rates at 4.75% have enabled Yorkshire to offer these best buy three-year fixed rate deals, which are cheaper than many two-year fixes.”

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