View more on these topics

Yorkshire BS cuts cost of long-term fixes

Yorkshire Building Society has reduced rates on its five, seven and 10-year fixed rate deals. 

The mutual says it is seeing an increasing number of borrowers looking to lock in mortgage rates for the longer term, fuelled in part by ongoing Brexit uncertainty. 

Its five-year fixes now start at a rate of 1.84 per cent, available up to 65 per cent LTV, and with a fee of £1,495.

Borrowers looking to borrow up to 75 per cent LTV can get a five-year fix at 1.96 per cent. This deal comes with just a £495 fee and free legal fees. 

Homeowners who want longer term deals can choose from a new seven-year fixed rate mortgage at 2.42 per cent. This is available up to 85 per cent LTV and comes with a £495 fee. 

Similarly, Yorkshire is also offering a 10-year fix at 2.35 per cent. This is available at 65 per cent LTV, again with a £495 fee. 

Yorkshire Building Society’s senior mortgage manager Charles Mungroo says the mutual has seen a 44 per cent increase in borrowers looking for longer term fixes. 

He adds that the society has reduced fees on many of these deals as well as lowering rates. “With Brexit uncertainty potentially weighing on the mind of homeowners and buyers, we hope reducing rates will help borrowers get some peace of mind by being able to set their monthly repayments for up to the next decade.”


Feature: An afternoon with Ying Tan

As his company rebrands to Dynamo, the BTL supremo talks to Gary Adams about how it all began, the state of the market today and his plans to harness technology to expand the business “I am a nice guy, I gave advice for free, but I soon thought that I could monetise it,” Ying Tan […]

Specialist borrowers looking beyond England: Knowledge Bank

The top mortgage search term in April under the self-build category was ‘lend in Scotland’, according to Knowledge Bank, while in equity release, ‘lend in Wales’ was the second most searched term. Under self-build, the second position went to ‘maximum loan to value’, followed by ‘maximum LTV – loan to cost’, ‘lend against land’, and […]

Guide cover

Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


News and expert analysis straight to your inbox

Sign up