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

Tony Gimple
Tony Gimple 09 Dec 2017

Linking professionalism to limited company borrowing is a flawed concept. Despite S24 etc., limited companies are the most tax inefficient way of running a property business and leave borrowers seriously...

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

It's normal. If you plan to buy a house in one of the most beautiful spots in the country you should pay a high price.

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Evelyn Attwood
Evelyn Attwood 01 Dec 2017

I think that the situation will be the same at December.

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Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

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richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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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

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