Yorkshire Building Society sees 400% rise in mortgage applications

A UK lender has seen a four-fold increase in mortgage applications during the first quarter of the year.

The Yorkshire Building Society has processed 400 per cent more enquiries between January and March 2010 than during the final quarter of 2009, despite the end of the stamp duty holiday.

Commenting on the finding, Tom Girling, mortgage product manager at the society, said the mortgage market has started 2010 "at a fast pace".

"We have been quick off the blocks to launch new products and to cut rates," he commented.

"So far this year we have received over 350 best buy mentions in the national press for our mortgage products and we have seen a large increase in applications as a result."

Among the cheap mortgage rates currently available at Yorkshire Building Society are a two-year fix at 3.09 per cent with 60 per cent loan-to-value, and 4.49 per cent with a 15 per cent deposit.

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2010-03-31 15:24:47 © Moneyextra.com