Yorkshire Bank extends fee-free summer mortgage deal
www.moneynews.co.uk > Mortgages > Yorkshire Bank extends fee-free summer mortgage deal
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Money News |
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Yorkshire Bank extends fee-free summer mortgage deal
Wed 3rd Sep 2008
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The deal is for new customers who remortgage to the bank's current account mortgages.
Rapid Repay and Flexible Repay customers also receive £200 towards legal fees for the month and are exempt from a valuation fee.
The bank says that all the money in the account helps pay off the mortgage because interest is calculated daily.
For example, if the £1,139 saved on the fee is paid into a typical £100,000 current account mortgage, the loan would be paid off eight months early, saving £4,469 in interest.
Gary Lumby, head of retail at Yorkshire Bank, said the fee-free deal had been "very successful" and that the bank wanted to continue to assist in making mortgages affordable.
Lloyds TSB recently urged homeowners to shop around for mortgage deals.
New research from Cheltenham and Gloucester revealed that homeowners are confused and worried about switching lenders when they remortgage and as such risk taking a less competitive rate.
Click here for more mortgage news.
Related News : Mortgages |
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Related News : Banking |
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Related News : LloydsTSB |
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