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Yorkshire BS reduces rates on high LTV products

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  • 21/01/2016
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Yorkshire BS reduces rates on high LTV products
Yorkshire Building Society is set to reduce rates on several two-year fixed rate products within its 90% and 95% loan-to-value (LTV) ranges from tomorrow.

Borrowers with a 10% deposit will be offered a two-year fixed with a rate of 2.59%, which comes with a £845 fee. A fee-free product is also available at the same term with a rate of 2.89%. It includes a free standard valuation and £250 cashback on completion.

Available to borrowers with a 5% deposit is a two-year fix at 3.88%, with a £845 product fee, or 4.19% with no fees, a free standard valuation and £250 cashback.

Brendan Gilligan, mortgages manager for Yorkshire Building Society, said: “It can be difficult for first-time buyers to get onto the housing ladder and as a mutual lender which is run for the benefit of its members, we want to help them as much as we can.

“These fixed-rate mortgages will help people with low deposits to buy their own home, with options for borrowers who want to either minimise the interest they pay, or reduce the upfront costs of moving,” he said.

In December, the society also launched a two-year fixed product at 3.68%, aimed at first and second-time buyers who borrow up to a maximum of £500,000 at 95% LTV.

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