Yorkshire Building Society mortgage applications up 400%

Date:Tuesday 30th March 2010
Author: Susanna Kavka

The number of people looking to take out a mortgage with Yorkshire Building Society increased by 400 per cent at the start of this year, the institution has reported.

Compared to the final three months of 2009, the first quarter of this year saw a large number of people applying for a mortgage product with the building society.

Tom Girling, mortgage product manager at the Society, commented that the group had started the year at a fast pace and as a result had been quick to launch new products and cut their rates.

In addition to this, the company has been receiving a large amount of positive press coverage, with over 350 best buy mentions for its products in the national media.

As a direct result of this, Mr Girling believes there has been a rise in the amount of people who want their products, which include a two-year fixed-rate with a rate of 3.09 per cent and a loan-to-value (LTV) of 60 per cent.

Last week, the building society launched a new fixed-rate mortgage with a LTV of 85 per cent.