Yorkshire Building Society has decided to reduce the rate on its five-year fixed-rate mortgage to 4.49 per cent.
The new product is among the best five-year fixed-rate mortgage deals on the market and is fixed until October 31st 2010.
The mortgage is fully portable should the borrower wish to move home during the fixed rate period and interest is charged daily, giving immediate benefit to all repayments.
The head of mortgages at the Yorkshire, Rachel Court, said: "Our five-year fixed-rate mortgage offers homebuyers, or those just wanting to move their mortgage, a great rate with flexible features and the security associated with a fixed rate mortgage."
Ms Court also pointed out the benefit of the daily interest across whole range: "Interest on Yorkshire's entire mortgage range is charged daily, making our new five-year fix even more competitive when compared to deals available from some other lenders."
The scheme has a booking fee of £195 and a completion fee of £300 and early repayment charges apply only during the fixed-rate period.
Overpayments on the mortgage of up to ten per cent of the capital each year are allowed without any extra charge.To read more about mortgages, click here.
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