Yorkshire offers 2-year fixed mortgage at 2.89%

Yorkshire Building Society has released a new two-year fixed-rate mortgage for customers with a 25 per cent deposit.

The lender says the 2.89 per cent deal is one of the cheapest mortgages available on the market.

For those with a smaller deposit, Yorkshire has also launched a two-year fix at 4.25 per cent with 85 per cent loan-to-value.

Fees of £995 are applicable with both new mortgage products.

Tom Girling, mortgage product manager at Yorkshire Building Society, said: "Our new two-year fixed-rate deals offer fantastic value to both those with a large deposit and those perhaps taking their first steps onto the property ladder.

"Both deals are available online and from all our branches, where our fully qualified mortgage advisers can guide and support people buying a home through the house buying process.

Mr Girling said the lender plans to significantly increase its market share during 2010.

According to the latest John Charcol Mortgage Index, 26 per cent of borrowers took on a fixed-rate mortgage in May, the highest level since October 2009.

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2010-06-21 14:30:48 © Moneyextra.com