Yorkshire Building Society launches new first-time buyer mortgage

Yorkshire Building Society has beefed up its first-time buyer range with the launch of a new member-exclusive mortgage for those with a smaller deposit.

The new offering is a five-year fixed rate at 6.49 per cent, available at up to 90 per cent loan-to-value LTV with free valuation and legal fees.

Any first-time buyer who has been a Yorkshire member for over 12 months, or who has a close family member or friend who has been a member for this period, is entitled to apply for the deal.

Potential homeowners may also choose between a three-year fixed-rate mortgage at 5.84 per cent and a five-year fixed rate product at 5.99 per cent, at up to 85 per cent LTV.

Iain Cornish, chief executive at the building society, said: "Rewarding our existing members for their loyalty and providing attractive mortgages to help first-time buyers get a foot on the property ladder are both very important to us."

He added that the new mortgage, along with Yorkshire's existing range, is available from all branches, where professional advisers can support new buyers through the purchase process.

Earlier this week, Legal & General Mortgage Club launched three exclusive fixed-rate mortgage products, provided by Accord Mortgages.

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2010-01-26 13:50:40 © Moneyextra.com