Rates reduced on Yorkshire Building Society Fixed Rate Mortgages

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Rates reduced on Yorkshire Building Society Fixed Rate Mortgages

Tue 1st Aug 2006

A number of Yorkshire Building Society Fixed Rate Mortgages are set to have their rates reduced by 0.3 per cent, the company has announced.

New mortgage rates on the two and five year products will be 4.79 per cent and 5.14 per cent respectively, as from August 4th 2006.

Interest on these products is paid on a daily basis which means borrowers receive any benefits immediately and the same is true of all Yorkshire Building Society Mortgages.

Customers taking up a Yorkshire Building Society Fixed Rate Mortgage have the flexibility to overpay, underpay or take breaks in payment, within agreed levels.

David Heshon, Yorkshire's product development manager, said: "A number of borrowers are becoming increasingly worried about the cost of homeownership as interest rates are expected to rise and most utility bills have seen a large price hike this year.

"We are therefore finding more people wanting the payment security of a fixed rate mortgage."

Yorkshire Building Society is a mutual organisation with 1.8 million members and assets of around £16 billion.

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