Yorkshire reduces fixed rates

Amanda Jarvis

January 4, 2005

The new deals are available to all borrowers whether they are moving home or just moving their mortgage.

The new rates are:
4.59% 2 year fixed rate – reduced from 4.69%
4.94% 5 year fixed rate – reduced from 5.39%

The arrangement fee for these mortgages has also been reduced to £395. As with all Yorkshire mortgages, in addition to other flexible features unlimited overpayments are permitted without any penalty charges. Accident, sickness and unemployment cover is also offered free of charge for the first six months.

In addition, the Society's fee-assisted mortgages have been reduced to 5.24% from 5.69%, and can be fixed for 2 years, 5 years or 10 years or offset fixed rates for 2 years or 5 years.

These mortgages do not require the payment of a mortgage arrangement fee and offer assistance with legal and valuation costs.

Early repayment charges are only applicable if full redemption occurs during the fixed rate period.

Rachel Court, Head of Mortgages at Yorkshire Building Society said, “The movements in the money market rates indicate that many consider the Bank of England base rate to have peaked at 4.75%. We are delighted to be able to take advantage of the reducing rates and passing on the savings to those who choose Yorkshire for their mortgage.”

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