Yorkshire Building Society three-year fixed-rate mortgages 'sign of healthy competition'

Date:Tuesday 6th July 2010
Author: Max Freedman

Comparison site moneysupermarket.com has suggested that the new Yorkshire Building Society three-year fixed-rate mortgages show that competition among providers is improving.

Mortgage expert at the website Hannah-Mercedes Skenfield claimed that this trend has been apparent since the beginning of the year, as interest rates have started to come down.

She highlighted how the Yorkshire Building Society three-year fixed-rate mortgages, which are available at 3.69 and 4.59 per cent interest for 75 and 85 per cent loan to value deals respectively, are exclusively found at moneysupermarket.com.

"Fixing your mortgage rate for three years is a good option for many who want the certainty of a fixed rate without the commitment of a long-term deal," remarked Ms Skenfield.

Last month, moneysupermarket.com noted that new Isa switching guidelines could allow savers in the UK to secure an extra £5.6 million in interest from their cash, but suggested the Office of Fair Trading could have gone further.