Yorkshire adds first-time buyer product to range

Published on

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.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Young buyers look further afield as affordability pressures persist

A growing number of younger buyers are willing to compromise on location in order...

If you motivate an idiot you just get stupid things done quicker

There's a lot of excitement about artificial intelligence in the mortgage industry right now....

Monmouthshire BS expands mortgage platform pilot ahead of wider broker launch

Monmouthshire Building Society has expanded the pilot of its new mortgage origination platform to...

Skipton BS cuts residential mortgage rates across fixed range

Skipton Building Society has reduced rates across its residential fixed-rate mortgage range and launched...

Yorkshire BS members save millions through commission-free insurance offer

Yorkshire Building Society says its commission-free insurance proposition has helped members save more than...

Latest publication

Other news

Young buyers look further afield as affordability pressures persist

A growing number of younger buyers are willing to compromise on location in order...

If you motivate an idiot you just get stupid things done quicker

There's a lot of excitement about artificial intelligence in the mortgage industry right now....

AI for brokers: the three lines you should never cross

Most AI advice aimed at advisers is either breathless hype or vague caution. Here...