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Mortgage lender wins innovation award

Mon, 07 Nov 2005

A pioneering mortgage from the Yorkshire Building Society has been named the winner of the Innovator of the Year Award by the Mortgage Finance Gazette.

The Yorkshire Fresh Start mortgage has won the accolade because it has been a "fantastic success in terms of sales", according to the panel of judges.

This is the second time that the independent economic experts named the mortgage lender as a winner of this award.

It previously took the joint honours with Britannia Building Society for their branch-sharing scheme.

"This is a fantastic result for the team who spent many months researching and designing the product," says the Yorkshire's chief executive, Iain Cornish.

The Yorkshire Fresh Start mortgage was designed for people who have recently divorced or split up with a partner.

For the first six months of the mortgage life, no interest is charged on the loan, so people have the opportunity to let their "wallet as well as your heart" heal.

Yorkshire Building Society is one of the largest building societies, providing mortgages to customers at 131 branches in the UK.

As a prime mortgage lender, it is committed to mutuality and is determined to return real financial benefits to its mortgage holders.

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