Yorkshire Building Society increases cash back on mortgage

Date:Tuesday 22nd December 2009
Author: Max Freedman

Cash back given to first-time buyers who have their mortgage with Yorkshire Building Society is set to increase.

In order to help first-time buyers to offset the stamp duty charges, which are set to be introduced again on properties worth £125,000 and above, Yorkshire Building Society is increasing the cashback from £500 to one per cent of the total loan.

Those looking to get on the property ladder with a loan from Yorkshire Building Society have the choice of a three year fixed-rate mortgage at 5.84 per cent and a five year fixed-rate product at 5.99 per cent.

A three-year fixed-rate, with 3.89 per cent fixed rate for two years was also recently launched, providing the same level of cashback.

Iain Cornish, chief executive of Yorkshire Building Society, said: "There are no fees to pay when they take out the mortgage and the cashback will help cover the cost of the stamp duty."