Yorkshire Building Society fixed rate mortgages 'set to be popular'

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Yorkshire Building Society fixed rate mortgages 'set to be popular'

There has been plenty of demand for long-term fixed rate mortgages, according to Yorkshire Building Society.

Tom Girling, product manager for mortgages at the organisation, suggested a new range of this type of home finance arrangement could be popular.

He explained that eight out of ten mortgage applications Yorkshire Building Society receives are for fixed rate agreements, as customers look for peace of mind in an uncertain economic environment.

"There is certainly a demand for this type of mortgage as borrowers look for long-term security, good value and great service," said Mr Girling.

Among the products available in the new range are a 60 per cent loan-to-value (LTV) deal at 3.89 per cent interest and a 75 per cent LTV offset arrangement at 4.09 per cent interest.

Recently, Yorkshire Building Society announced that it had reduced the interest rate of its First Time Buyer proposition, which is available at 5.59 per cent for 90 per cent LTV agreements.

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