Yorkshire Building Society mortgages get cheaper

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Yorkshire Building Society mortgages get cheaper

Tue 4th Jan 2005

As money market rates continue to fall, Yorkshire Building Society has reduced the cost of its fixed rate mortgages.

The new deals are available to all borrowers whether they are moving home or just moving their mortgage.

The new rates are 4.59 per cent for a two-year fixed rate, reduced from 4.69, and 4.94 per cent for a five-year fixed rate, reduced from 5.39 per cent

Rachel Court, head of mortgages at Yorkshire Building Society, said: "The movements in the money market rates indicate that many consider the Bank of England base rate to have peaked at 4.75 per cent.

"We are delighted to be able to take advantage of the reducing rates and passing on the savings to those who choose Yorkshire for their mortgage."

The arrangement fee for these mortgages has also been reduced to £395.

In addition, Yorkshire's fee-assisted mortgages have been reduced to 5.24 per cent from 5.69 per cent, and can be fixed for two years, five years or ten years or offset fixed rates for two years or five years.

These mortgages do not require the payment of a mortgage arrangement fee and offer assistance with legal and valuation costs. Early repayment charges are only applicable if full redemption occurs during the fixed rate period.

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