Yorkshire Building Society releases new mortgage

Date:Monday 11th January 2010
Author: Susanna Kavka

Yorkshire Building Society has announced it is to add a new mortgage to its range.

A new mortgage with the building society's lowest ever rate of just 3.19 per cent has been launched.

Consumers wishing to take advantage of this low rate can access it with the institution's one year fixed-rate product, which has a loan to value of 75 per cent and comes with a £195 fee.

In addition, rates have been slashed across the range of mortgages on offer, with a two-year fixed-rate at a LTV of 85 per cent now on offer for 5.59 per cent, a cut of 0.4 per cent.

Iain Cornish, chief executive at the company, said: "We are now offering some of the lowest rates across the market for customers with 15 per cent or 25 per cent deposits and across a number of different product terms."

Last month, the amount of cash received by first-time buyers on completion was increased to one per cent of their total loan, which will help towards stamp duty payments.