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.”

Join our mailing list:

Leave a comment



Latest Comments

Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

view article
RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

view article
sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

view article
Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

view article
Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

view article
Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

view article
Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

view article
Samantha Goodman
Samantha Goodman 11 Aug 2017

It depends on the people, some older adults decide to make a long-distance move in order to live closer to their children or settle in a place with a lower cost of living.

view article
brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

view article
IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

view article
IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

view article
cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

view article

Related stories

More articles from Finance

Property Finance Roadshow 2017

4th - 12th October

4 days
6 specialists
4 locations
Free to attend

Click here to register now