Is YBS’s mortgage rate a new record low?

Is Yorkshire Building Society’s 2 year fixed rate mortgage still the lowest rate available on the market today?

Their product for up to 95% loan to value, was launched last month with an interest rate of 3.25%, reverting to 4.74% after the initial period. A fee applies, however, the mortgage features a cashback incentive of £250, payable on completion.

The lender has also launched a 2 year fix at 1.97% for up to 90% LTV.

New record low mortgage rates have been hitting the headlines for over 12 months now, but the products on offer have mainly been for those borrowers who have a larger deposit and can afford a lower LTV ratio. Simply put, the bigger your deposit, the better your mortgage rate, but this left those borrowers with a 5-10% deposit struggling to find a competitively priced deal.  

However, this latest addition to the fixed rate range from YBS, broadens their appeal to include those with smaller deposits and has paved the way for other lenders to follow suit.

Whether YBS continue to be the cheapest on the market, or not, warrants some investigation and DDFS are ideally placed to be able to do this for you.

As a ‘whole of market’ mortgage broker, we can track down the lowest rate mortgages for you, but this is only part of the story. After sourcing the lowest rates, we can then carry out a full comparison, weighing up the actual overall cost of each option. Our experts can quickly and easily demonstrate which mortgage product really is the most economical and represents the best overall value, according to your particular circumstances.

For a complete mortgage service, contact Deal Direct on 0800 048 8828.