Yorkshire BS launches ten-year fixed rate range

Yorkshire Building Society has launched new five and ten-year fixed rate options, including a ten-year fixed rate at 2.49% up to 65% LTV.

Related topics:  Mortgages
Rozi Jones
2nd August 2018
YBS Yorkshire Building Society
"While ten-year fixes may suit some borrowers, we appreciate taking a mortgage over such a long period could be daunting for others, so we’ve also looked at our five-year options"

Other ten-year rates added to the range start at 2.54% up to 75% LTV and 2.79% up to 85% LTV, all with a £995 fee.

The Yorkshire has also made a number of changes to its five-year fixed rate mortgages, with rates starting at 1.87% for borrowers with a 35% deposit.

The Society says it has seen demand for long-term fixed rate mortgages rise by more than 37% in the last year, amid speculation of an imminent Bank Rate rise and Brexit uncertainty.

Janice Barber, mortgage manager at Yorkshire Building Society, said: “The market is seeing a shift in borrowers’ behaviour, with more turning to longer-term options for the peace of mind of knowing what their monthly repayments will be for a number of years.

“While ten-year fixes may suit some borrowers, we appreciate taking a mortgage over such a long period could be daunting for others, so we’ve also looked at our five-year options, many of which come with additional features such as no or low fees and free standard valuation, to help borrowers with upfront costs.”

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