Money News
Yorkshire Building Society is cutting 0.3% off the rate for its 2 and 5-year fixed rate mortgages - effective August 4th. The new rates will now be fixed at 4.79% through September 30th 2008, 5.14% through September 30th 2011.
Both loans come with a £595 arrangement fee (£195 at application, £400 at completion). Borrowers may overpay by up to 10% annually without incurring any early repayment charges.
Borrowers may also underpay or take payment holidays, within agreed limits. However, where early repayment charges do apply customers will be hit with a 3% fee during the 2-year fixed rate period.
For the 5-year deal charges come in at 5% through September 30th 2009, then 4% to September 30th 2010, then 3% to September 30th 2011.
Dependent on the customer's circumstances, on the 5-year fixed rate mortgage Yorkshire may increase the income multiple to up to 5 times salary.
02 August 2006 © Moneyextra.com
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