Yorkshire Building Society mortgages 'aimed at helping first-time buyers'

Date:Thursday 2nd September 2010
Author: Susanna Kavka

A senior source has suggested that Yorkshire Building Society mortgages are there to try to help first-time buyers get a good value home finance deal.

This is the view of senior product manager at the firm Chris Smith, who claimed that a mortgage should be more than just a competitive interest rate.

Yorkshire Building Society mortgages have been in increased demand since its range was "refreshed" in June, according to the company.

"We're very aware of the difficulties first-time buyers face getting onto the property ladder. As a national building society, our aim is to help people to own a home," explained Mr Smith.

The organisation stated that the number of people with smaller deposits who have been helped on to the property ladder since June has doubled month-on-month.

Last month, Yorkshire Building Society cut the cost of its three-year fixed-rate arrangement for individuals with a 15 per cent deposit, by dropping the interest rate to 4.59 per cent.