highlights advantages of Yorkshire ten-year fixed-rate mortgage

Date:Monday 14th June 2010
Author: Susanna Kavka

There are plenty of advantages to taking out the new Yorkshire Building Society ten-year fixed-rate mortgage, according to

Spokesperson for the website Andrew Hagger noted that the deal has an "attractive" rate of 4.99 per cent and could help homeowners with their budgeting, since the rate will stay the same for a decade.

Mr Hagger commented: "It's not just the lending fee you need to consider, there's potentially redemption fees, valuation and legal fees too - not to mention the hassle factor

In addition to this, he lauded the portability of the deal, which means consumers can take it with them if they move house.

He concluded that it will be "interesting" to see how popular this arrangement will be in the current mortgage market, particularly with all the uncertainty around the UK economy.

Yorkshire Building Society launched the product on Friday June 11th at its current rate and said that it is the first time in a year that customers would be able to secure a ten-year deal at under five per cent interest.