YBS to launch lowest fixed rate in its history

YBS to launch lowest fixed rate in its history

Yorkshire Building Society has announced that it has launched a 0.99% two-year mortgage, its lowest ever fixed rate product.

According to the lender, the new product will be available from Friday, 17 March, to remortgage and home purchase customers borrowing 60% of the cost of their property.

It represents the first time the building society has offered a fixed rate mortgage of less than 1% and is currently the only fixed rate available anywhere in the market at less than 1%.

The product features a £1,495 fee; lower fee and fee-free mortgages suitable for those borrowing less, or who wish to keep up-front costs down, are also available from the Society.


It means the Yorkshire now offers the lowest fixed and tracker mortgage rates in the market: its 65% LTV two-year discounted standard variable rate (SVR) mortgage, which tracks the Yorkshire’s SVR, currently has a rate of 0.98%.

James Farrow, Yorkshire Building Society Senior Mortgage Manager, said: “We have seen fixed mortgage rates creep up gradually in recent months so seeing it fall to 0.99% is very welcome news for borrowers.

We always seek to keep the cost of borrowing as low as possible and offering the lowest fixed rate mortgage in our 152-year history clearly reflects that.”

Rachel Springall, Finance Expert at Moneyfacts.co.uk, said: “This brand new market-leading two-year fixed mortgage from Yorkshire Building Society is likely to delight borrowers hoping to take advantage of a competitive fixed rate with a trusted brand.

It also has some flexibility by allowing overpayments and borrowers would be wise to take full advantage of this to reduce the mortgage term. As with any deal, it’s important that borrowers work out the overall true cost to see if it’s the best possible choice for them.”

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Latest Comments

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 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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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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