Yorkshire adds first-time buyer product to range

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Yorkshire Building Society has added a new member-exclusive mortgage to its range aimed at first-time buyers.

The five-year fixed rate is priced at 6.49% and available up to 90% loan to value (LTV) with free valuation and legal fees and no upfront fees.

The mortgage is available to first time buyers who have either been a Yorkshire member for over 12 months or who have a close family member or friend who has been a Yorkshire member for over 12 months.

The product adds to Yorkshire’s first-time buyer range, which also includes a three-year fixed rate mortgage at 5.84% and a five-year fixed rate product at 5.99% at up to 85% LTV with free valuation and legal fees, 1% cashback and no upfront fees.

Iain Cornish, chief executive at the Society said that rewarding existing members for their loyalty and providing attractive mortgages to help first time buyers get a foot on the property ladder were very important.

He added: “We considered what would be most important to a new borrower and we hope that this mortgage will take some of the financial pressure off first time buyers as they have no mortgage fees to pay and we pay the valuation and legal fees.

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