Yorkshire BS launches 0.99% fixed-rate
We always seek to keep the cost of borrowing as low as possible and offering the lowest fixed rate mortgage in our 152-year history clearly reflects that.
Yorkshire Building Society is launching a 0.99% two-year product - its lowest ever fixed rate and the only fixed rate product currently available at less than 1%.
The mortgage will be available from Friday 17 March for purchase and remortgage up to 60% LTV with a £1,495 fee.
Yorkshire's 65% LTV two-year discounted standard variable rate mortgage currently has a rate of 0.98%.
James Farrow, Yorkshire Building Society Senior Mortgage Manager, said: “We have seen fixed mortgage rates creep up gradually in recent months so seeing it fall to 0.99% is very welcome news for borrowers.
“We always seek to keep the cost of borrowing as low as possible and offering the lowest fixed rate mortgage in our 152-year history clearly reflects that.”
Rachel Springall, Finance Expert at Moneyfacts.co.uk, said: “This brand new market-leading two-year fixed mortgage from Yorkshire Building Society is likely to delight borrowers hoping to take advantage of a competitive fixed rate with a trusted brand.
“It also has some flexibility by allowing overpayments and borrowers would be wise to take full advantage of this to reduce the mortgage term. As with any deal, it’s important that borrowers work out the overall true cost to see if it’s the best possible choice for them.”