Yorkshire launch new fixed-rate mortgages

Fri, 15 Dec 2006

As of 15th December 2006, Yorkshire Building Society will launch a new range of fixed-rate mortgages .

The news follows recent stories that indicate resurgence in the popularity of fixed-rate mortgages . Yorkshire is one of many lenders who are updating their fixed-rate mortgages to reflect the changing mortgage climate in the UK.

The new fixed-rate mortgage products include an entire range, 2-year fixes, 3-year fixed, 5-year fixes and a best buy 10-year fixed rate mortgage . The 10-year fix stands at 4.95 per cent, available up to 95 per cent of property value, with an arrangement fee of 595 pounds. Other loans stand at similar cost.

The Product Development Manager in the Mortgages and Planning department of Yorkshire Building Society, David Heshon, said: "Reports from the branch network indicate that there is an increasing demand for longer term fixed rate products. To be able to fix for 10 years at a rate below 5% will inevitably mean that this product will be in big demand."
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