11
Jan
Yorkshire Building Society cuts rates across mortgage deals
Yorkshire Building Society has launched its lowest-ever fixed-rate
mortgage in addition to cutting rates across many of its fixed and
tracker deals.
The new one-year fixed-rate mortgage is on offer at 3.19 per cent
with a loan-to-value (LTV) of 75 per cent and a £195
fee.
Its two, three, five and ten-year fixed-rate products have seen
their rates cut by between 0.60 and 0.20 per cent on LTVs of both
75 and 85 per cent.
Iain Cornish, chief executive at the firm, commented: "The society
is taking the opportunity to boost mortgage applications as there
are beginning to be signs of an increase in activity in the housing
market."
The rates of some of its two-year tracker products have also
fallen, with the rate on a 75 per cent LTV mortgage now standing at
2.14 per cent plus the Bank of England base rate.
On January 7th, the Monetary Policy Committee decided to hold the
base rate of interest at 0.5 per cent for the 11th consecutive
month.