Mortgage war intensifies as YBS launch Britain's cheapest ever deal

Mortgage war intensifies as YBS launch Britain's cheapest ever deal

Yorkshire Building Society has announced that it has launched the lowest mortgage rate ever available in the UK at 0.89%.

The two-year discounted SVR is available at 65% LTV with a £1,495 fee, with a £995 fee option at 1.05% also available.

The 0.89% product matches the Yorkshire’s SVR at a discounted level of 3.85% for two years before reverting to the SVR itself, which is currently 4.74%.


The new mortgage forms part of a refresh of its residential lending, which includes interest rate reductions of up to 0.16% on selected 65%, 75% and 85% LTV mortgages.

All remortgage only products now include a cashback option, in addition to a free standard property valuation and free legal service.

James Farrow, Senior Mortgage Manager at Yorkshire Building Society, said: “We are very pleased to offer borrowers the lowest mortgage rate ever available.

The cost of funding has fallen in recent weeks and as a financially strong building society with no external shareholders to satisfy we have the ability to pass this on to borrowers.”

Rachel Springall, Finance Expert at Moneyfacts, said: “It’s fantastic to see such low rates on offer from Yorkshire Building Society and the choice between variable or fixed deal will appeal to different types of borrowers. Those looking for more flexibility over the shorter term may prefer a discounted deal, but those looking for some security could choose the fixed rate.

In such a low interest rate environment it would be ideal for borrowers to consider overpaying their mortgage. As with any option borrowers would be wise to weigh up the entire package before entering any arrangement.”

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Latest Comments

warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

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Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

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jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

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SecomTech
SecomTech 04 Apr 2017

...and not one mention of the rules on PERMITTED DEVELOPMENT!!! Unless you have studied the plans you will not know...It's probable a high proportion would not need planning permission...BUILDING Control...

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Jonathan
Jonathan 03 Apr 2017

That's a very interesting study indeed. There is no doubt that new services and web apps such as Wonego.com in the UK or Roomster in the US will change the way people look for a flatmate, and that tenants...

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MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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