View more on these topics

New fixed rates from Yorkshire Building Society

Yorkshire Building Society will launch two market-leading flexible fixed rate mortgages this week, with two-year rates from 4.49% and five-year rates from 5.24%.

The new mortgages are available up to 95% of the property value, and offer borrowers a choice of either the lowest fixed rate on the market, or a slightly higher rate which has no arrangement fee and provides assistance with valuation and legal fees.

As with all Yorkshire mortgages free accident, sickness and unemployment cover will be provided for six months, and will be fully flexible with daily interest calculations and under and overpayments permitted without any penalty charge. Early repayment charges will be applicable if the mortgage is fully redeemed during the fixed rate period.

The new products can be used for either house purchase or re-mortgage and are available to existing as well as new borrowers. At the end of the fixed rate period each mortgage will revert to the society&#39s variable mortgage base rate, currently 5.45%. There are no early repayment charges beyond the special rate period.

Iain Cornish, general manager of marketing at Yorkshire Building Society, says: “Two weeks ago we launched the cheapest fixed rate mortgages available, but these headline rates have since been mirrored by some competitors. The products we are launching this week show that Yorkshire remains ahead in the mortgage field and continue to offer its members outstanding long term value.”

He adds: “As the new mortgages, like all our new mortgages, are fully flexible, borrowers benefit not only from the excellent rates but also from tailoring their mortgage payments to their circumstances throughout the term of the loan. These flexible products put the borrowers firmly in control of how and when their mortgage is repaid.”

Full product details are:

• 2 Year Flexible Fixed Rate 4.49% – until 30/11/2004Maximum 95% loan to value

• Arrangement fee of £325

• 2 Year Flexible Fixed Rate 4.79% – until 30/11/2004Maximum 95% loan to value

• Assistance with legal and valuation fees

• No arrangement fee

• 5 Year Fixed Rate 5.24% – 5 years from completionMaximum 95% loan to value

• Arrangement fee £325

• 5 Year Fixed Rate 5.39% – 5 years from completionMaximum 95% loan to value

• Assistance with legal and valuation fees

• No arrangement fee

Recommended

MIFAS launches buying club

Misys IFA Services (MIFAS), has announced the launch of its buying Club for the benefit of its members. The MIFAS Buying Club will provide members with access to discounted products and services for their businesses. It offers products and services from Insight (providers of computer hardware and software products), Parity (IT and management skills training […]

World Cup knocks housebuilding figures

The latest housebuilding figures show that fewer dwellings were started this summer than last. Some 13,400 dwellings were started in June 2002, compared with 17,000 in June 2001. Some 46,600 starts were estimated in the three months to June compared with 48,800 in the first quarter of 2002. The low figure in June is likely […]

Lenders wary of regulatory cost

The Treasury says that it will take into account the cost of implementing the regulatory regime for both lenders and brokers. Most respondents agreed advice should be regulated &#45 provided the approach taken by the FSA was a “light touch and proportionate”. But many believe that it&#39s not possible to state categorically “that the costs […]

Arrears figures down

Arrears and possessions are continuing to fall, writes Harriet Williams.The Lord Chancellor&#39s department recorded 14,397 mortgage possession actions entered in the second quarter of 2002, down 14% on the 16,696 actions entered for the same period last year. Total possession orders made dropped 15% to 10,348.But Bernard Clarke, communications manager at the CML, says: “This […]

US: mid-year review and outlook

By Felix Wintle, Manager of the Neptune US Opportunities Fund H1 2014 Economic data: after last year’s strength, economic data has disappointed. Indeed, the economy contracted 2.9 per cent in the first three months of the year — the US economy’s worst performance for five years. However, rather than a symptom of underlying economic weakness or […]

Newsletter

News and expert analysis straight to your inbox

Sign up