Yorkshire Bank unveils internet only mortgage

02 February 2005 / by None
Mortgage lender Yorkshire Bank has unveiled an internet only offering.

The online mortgage is intended to take advantage of the increasing number of people looking to manage their finances on the internet.

Yorkshire Bank hopes that the new mortgage will prove a success as it also offers an appealing rate.

Rachel Court, head of mortgages at the bank, said the mortgage was very competitive thanks to the lack of costly overheads.

"As all applications will be received electronically and the processing will be completed centrally we have been able to reflect this in the cost of the mortgage, allowing us to offer a market leading rate for borrowers who choose to apply in this way," she said.

The new mortgage offers a three-year fixed rate of 4.64 per cent and is available for loans up to 95 per cent of the property value.

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