Yorkshire cuts home loan ratesYorkshire cuts home loan rates
Yorkshire Building Society has cut the cost of short-term fixed-rate mortgage borrowing from today.
In addition to reductions of up to 0.45 per cent from the current range, a new selection of two, three, five and ten-year fixed-rate mortgages are now on offer.
For example, a two-year fixed-rate deal is available at a rate of 5.74 per cent, with a fee of £995 and a maximum loan-to-value ratio of 75 per cent.
Tom Girling, Yorkshire's product manager for mortgages, said "hard-pressed" new homes seekers would surely welcome the news.
"Not only are these best buy products, they also offer £500 cashback and a free valuation and legal service for remortgage customers," he added.
The new rates come after a report by HSBC stated that the housing slump cannot be blamed on mortgage finance.
In fact, it said 98 per cent of would-be homebuyers are in a position to secure an appropriate mortgage but are reluctant to do so because of falling house prices. 