View more on these topics

Yorkshire Bank reduces mortgage rates

Yorkshire Bank has reduced interest rates across a range of its fixed, offset and flexible payment mortgages.

The bank has also reduced the arrangement fee on its two-year fixed rate mortgage by £1,000 for customers with up to 60% LTV at a rate of 3.79%.

In addition, first-time buyers with a 10% deposit can take out Yorkshire Bank’s fee free three-year mortgage fixed at 6.29%. While first-time buyers with a 5% deposit can access a rate of 6.99% with a £599 arrangement fee.

Gary Lumby, head of retail at Yorkshire Bank, says: “At Yorkshire Bank we are focused on providing innovative and competitive products and this latest cut in our mortgage rates underlines that commitment.

“We will work with all our customers to find the correct mortgage to suit their individual needs whilst continuing to deliver the high level of service that our customers have grown to expect.”


Broker cull will restore natural order

A recent poll carried out by Mortgage Strategy reveals that 32% of brokers are unlikely to renew their Financial Services Authority permissions this year. This should not come as a surprise – it’s simply the natural order of things.

AMI predicts broker market could shrink 50%

Speaking at the Abbey Key Accounts Conference in Sunningdale today, Chris Cummings, director general of the Association of Mortgage Intermediaries, says the number of mortgage brokers could drop to 15,000 by the end of 2009.


News and expert analysis straight to your inbox

Sign up