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Yorkshire launches new mortgages
Fri, 15 Dec 2006
Yorkshire Building Society is offering a new range of fixed-rate mortgages .

The new mortgages are available for first-time buyers and borrowers looking to find a remortgage - and offer up to 95 per cent loan-to-value .

New two, three and five-year mortgages are available, in addition to a ten-year fixed-rate package, which is fully portable.

The ten-year mortgage offers a rate of 4.95 per cent, while the two, three and five-year deals are at 4.99, 4.99 and 5.09 per cent respectively.

All of the mortgages feature a £595 fee, although the society notes that fee-free versions are available with a higher rate of interest.

David Heshon, product development manager of mortgages and planning at Yorkshire Building Society, commented: "Reports from the branch network indicate that there is an increasing demand for longer-term fixed-rate products.

"To be able to fix for ten years at a rate below five per cent will inevitably mean that this product will be in big demand."

Leeds Building Society , which also offers a ten-year fixed-rate mortgage, recently claimed that the package would offer "peace of mind" to borrowers concerned about rises in the Bank of England's base rate.

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