Yorkshire Building Society has launched a range of new mortgage deals.
£6.7 billion worth of mortgages will mature in January – the second largest peak of 2022 – and with interest rates expected to rise next year, the mutual is moving to offer borrowers the chance to lock in to reduced longer-term rates.
New deals include:
- A 10-year fixed rate of 1.94% at 75% loan to value (LTV), which comes with a £995 fee, £250 cashback and free standard valuation
- A fee-free 10-year fixed rate of 2.06% at 75% LTV, which comes with free standard valuation
- A seven-year fixed rate of 2.80% at 85% LTV, which comes with a £495 fee and free standard valuation
- A five-year fixed rate of 1.61% at 80%, which comes with a £1,495 fee and free standard valuation for house purchase, and free remortgage legal services for those renewing their home loan
- A fee-free five-year fixed rate of 2.90% at 95%, which comes with free standard valuation
Ben Merritt, senior mortgage manager at Yorkshire Building Society, said: “These new deals will appeal to borrowers who want to get organised and arrange their remortgage ahead of the festive period.
“January is a significant month for remortgages but with it being a busy time of year there’s every chance sorting out a home loan falls down people’s priority list. Any borrowers due to remortgage at the start of the New Year could benefit from getting everything wrapped up before the year is out to avoid reverting to their lender’s standard variable rate and potentially paying more in interest.”