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Yorkshire Building Society launches new mortgage

13 October 2005
A new two-year mortgage from Yorkshire Building Society will allow borrowers to remortgage at a fixed interest rate as well as give them a range of added benefits.

The mortgage offers a rate of 4.39 per cent, plus a free remortgage legal service, a refund of ? and property valuation fee and free accident, unemployment and sickness cover for the first six months.

It also gives customers daily interest calculations and an annual overpayment option of up to ten per cent of the original loan.

Head of mortgages at Yorkshire Building Society, Rachel Court, said "The number of people looking to re-mortgage over recent weeks has been the highest we have ever known.

"At the Yorkshire we usually design products that are available to everyone, whether they are moving home or just switching their mortgage, but it seemed appropriate at this time to design a product specifically for the re-mortgagers."

Taking up the Yorkshire mortgage offer does not require the sale of existing insurance policies and there are no early repayment penalties beyond the fixed term.

Financial experts last month warned that people coming to the end of fixed mortgage deals or who want to remortgage, should plan ahead since it takes between 30 and 40 days to arrange a new mortgage.

To read more about Fixed Rate Mortgages, click here.

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