New stamp duty mortgage from Yorkshire Building Society

Date:Wednesday 16th December 2009
Author: Susanna Kavka

Yorkshire Building Society has announced it is to introduce a new mortgage to help first-time buyers with the cost of stamp duty.

The fixed-rate product is offers a rate of 3.89 per cent for two years, with a one per cent cashback for mortgages up to £250,000.

An offset loan is also being made available, with a rate of 3.99 per cent and the one per cent cashback.

Iain Cornish, chief executive of Yorkshire Building Society, said: "We understand how difficult it is for people to find extra cash to fund the cost of moving home and have therefore designed this mortgage to help with these costs."

He added that the mortgage will benefit the majority of the company's customers, as most of its loans are taken out for properties worth under £175,000 and 90 per cent are on mortgages less than £250,000.

Yorkshire Building Society recently celebrated being named the most comprehensive mortgage provider by