Yorkshire Building Society cuts rates

Date:Tuesday 17th August 2010
Author: Susanna Kavka

First-time buyers looking to take out a loan with Yorkshire Building Society could benefit from recently announced rate cuts.

The provider has announced that it is to reduce the interest it charges customers who can put forward 15 per cent of the value of their property.

These reductions mean the company can now offer a market leading three-year fixed-rate deal for 4.95 per cent, plus a fee of £495.

Alternatively, there is also now a three-year tracker product with a rate of 3.49 per cent - tied to the Bank of England base rate plus 2.99 per cent - and a £495 fee.

Chris Smith, senior product manager for mortgages at the building society, said: "Our new range of mortgages for people with a 15 per cent deposit offers great value and a variety of options to suit borrowers' pockets."

The Post Office also recently announced it was to reduce the rates on three of its mortgages.