Yorkshire BS launches sub-4% FTB rate

Yorkshire Building Society has launched a mortgage for borrowers with a 5% deposit which is fixed for two years at a rate of 3.98%.

Related topics:  Mortgages
Rozi Jones
11th September 2015
New house FTB

The mortgage, designed to help first-time buyers get on to the housing ladder, has an £845 product fee. Borrowers can also take advantage of the offset equivalent, which has a 4.28% rate, fixed for two years.

The new mortgages are part of changes to the Society’s mortgage range, which includes the reduction of three-year fixed rates for borrowers with 15% deposits.

Brendan Gilligan, Product Manager at Yorkshire Building Society, said:

“We are a mutual which has no external shareholders, which means we reinvest our profits into developing our services and making our mortgages as competitive as possible.

“We know that buying your first home can be difficult financially, which is why we want to minimise the costs involved and give first-time buyers the reassurance that their repayments will be fixed for the first two years of their mortgage. We’re very proud to be offering a sub-4.00% mortgage for borrowers with a 5% deposit and hope that this will help as many people as possible take their first step onto the housing ladder.”

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