Yorkshire Building Society has brought out a new fixed rate mortgage which it says is designed to help home-movers cover the cost of the increase in Stamp Duty.
The new deal offers a 3.89% fixed rate for two years with a 1% cashback on mortgages up to £250,000. An offset version is also available at 3.99% fixed for two years, also with a 1% cashback.
These new mortgages are available for mortgages up to £250,000 and require a 25% deposit.
The New Year sees the end of the stamp duty holiday currently enjoyed by home-movers buying properties valued between £125,000 and £175,000, leaving them with a 1% tax bill, which is levied on properties bought up to the value of £250,000.
Iain Cornish, chief executive of Yorkshire Building Society, said: “In the current economic environment it is disappointing that the Chancellor hasn’t extended the stamp duty holiday for home-movers buying properties up to £175