The new range of mortgages is aimed at helping borrowers with smaller deposits, with rates starting from 3.44% for a two-year fixed-rate mortgage
Saving for a deposit remains one of the hardest obstacles to overcome for those taking their first step on to the property ladder. The latest products announced by Yorkshire Building Society aim to address this as the lender reveals its newly enhanced 90% LTV range.
YBS say that the new range of mortgages is aimed at helping borrowers with smaller deposits, with rates starting from 3.44% for a two-year fixed-rate mortgage. This home loan comes with £750 cashback, free standard valuation and a completion fee of £495.
Borrowers with a 10% deposit who are looking to fix their monthly repayments for longer may be interested in a new five-year fixed-rate mortgage of 3.54%, which also comes with £750 cashback, free standard valuation and a completion fee of £495.
Or, for those hoping to keep upfront costs down, a fee-free rate of 3.64% is available to fix for five years. This home loan comes with £250 cashback on completion and free standard valuation.
The Yorkshire has also extended the fixed-term deals on both the two and five-year terms until the end of May 2023 and 2026 respectively, giving borrowers the benefit of knowing exactly what their monthly repayments will be, for longer.
Ben Merritt, senior mortgage manager at Yorkshire Building Society, said: We know different borrowers have different needs when choosing a mortgage so this range deliberately includes a variety of options.
He said, offering both fee-free and low fee home loans with a combination of cashback and free standard valuations means people can tailor their mortgage to their circumstances, whether that’s reducing upfront costs or having cashback on completion to go towards furnishing the property.
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