22nd May 2015
Yorkshire Building Society has edged closer to sub-1% mortgage rates with its launch of a new two-year fixed year deal.
The mutual has unveiled the UK’s lowest-ever fixed rate mortgage, offering a 1.07% rate for two-years.
The mortgage has a £1,369 product fee and is available to those with a 35% deposit.
For those who want to pay a smaller fee, a 1.44% two-year fixed rate is available for £345 with a 35% deposit.
Yorkshire Building Society is also offering a range of fee-free mortgages with £1,000 cashback and free standard valuation.
Rachel Springall at comparison site Moneyfacts.co.uk said: ‘The new 1.07% deal becomes the lowest ever fixed mortgage on record, with the rate war on-going this is the perfect time for borrowers to secure a low fixed rate with this popular brand.’
Yorkshire Building Society chief commercial officer Mike Regnier, said: ‘We are a responsible mutual lender which uses its financial strength to support its members rather than external shareholders.
‘This means we can offer our members very competitive rates in order to enable them to buy the home of their choice. Earlier this year, we launched a 1.18% mortgage, which was then our lowest-ever rate to date and we are now very proud to better that by offering the UK’s lowest-ever, two-year fixed rate of 1.07%.’