Yorkshire Building Society launches 5.54% fixed rate mortgage while RBS and NatWest offer deals for existing customers

20 August 2008 / by Rachel Mason
Yorkshire Building Society has today launched a brand new fixed rate mortgage.

The new two-year fixed rate deal has a rate of 5.54 per cent, and a reduced fee of £895 - £100 lower than the normal fee.

Yorkshire Building Society is also reducing its current two year fixed rate of 4.99 per cent with a three per cent fee to 4.89 per cent. The fee has also been reduced to 2.5 per cent.

"There are signs of increasing activity in the mortgage market which can only be helped by falling rates," said Tom Girling, mortgage product manager at the Yorkshire Building Society.

"We are keen to pass on money market rate reductions to borrowers who are finding life tough at the moment with all of the other cost of living increases in fuel and food items."

And yesterday, RBS and NatWest launched a new range of mortgage deals exclusively for their existing mortgage customers.

The range – which includes fixed rate mortgage and tracker mortgage deals – has been developed to 'help customers coming to the end of their current deal'.

RBS and NatWest say that the range is exclusive to its current customers because they want to "reward loyalty by offering the best rates possible".

The fixed rate mortgage is available for two, three, five, seven or ten years, and there are two sets of rates – 6.19 per cent for people who only need a loan to value (LTV) of 75 per cent, and 6.54 per cent for customers who need an LTV of up to 95 per cent.

The tracker rate on a 75 per cent LTV is available at 5.99 per cent and for a 90 per cent LTV, the rate is 6.14 per cent. All of the new deals have a fee of £899.

"In these uncertain times we are committed to helping our existing customers who are about to come to the end of their current deal," said Jon Cooper, head of mortgages for existing customers.

"We have introduced these new competitive rates to support customers who want to keep monthly repayments as affordable as possible."

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