Yorkshire BS offers £300 cashback on remortgages

Yorkshire Building Society has launched a £300 cashback offer on selected remortgage deals.

The lender says it is offering the new incentive to coincide with a peak in demand as an estimated £26bn of current fixed and discounted deals are expected to mature across the mortgage market as a whole in October.

The cashback deal applies to its fee-free remortgage range, in which standard legal work and valuations are included.

Yorkshire is also extending the end dates on these products until December of the year that the fixed terms end so that borrowers will have an extra few months on their initial rate.

The deals which qualify for cashback include a two-year fixed at 1.87 per cent up to 65 per cent loan-to-value and a five-year fixed at 2.14 per cent at the same LTV.

At 75 per cent LTV borrowers can choose between a two-year fixed at 1.95 per cent and a five-year fixed at 2.19 per cent.

For borrowers with limited equity, Yorkshire is offering a two-year fixed rate of 2.21 per cent at 90 per cent LTV or 3.35 per cent at 95 per cent LTV.

Yorkshire Building Society senior mortgage manager Charles Mungroo says: “The largest mortgage maturity period of the year is upon us and we are keen to give borrowers looking for their next deal a range of competitive options.

“We have removed completion fees and added a host of additional features to many of our remortgages to help those renewing their home loan keep upfront costs down.”

He adds: “With so much economic uncertainty in the coming months we appreciate borrowers may be planning ahead and wanting to arrange their home loan before the fall-out of Brexit is known. 

“All our mortgage offers are valid for six months so if that’s the case, homeowners could choose a new rate now and have the reassurance their mortgage is arranged and ready to renew when their current deal expires – regardless of what happens when the UK is due to leave the EU.”

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