Yorkshire Building Society is launching a range of fee-free mortgages with £1,000 cashback to help borrowers get on or climb up the property ladder.
The Yorkshire has made 10 new house purchase mortgages available, with rates starting from 2.19% for a three-year fix.
Its five-year fixed rate mortgages start at 2.54%, and both the three-year and five-year products are available for those borrowing between 65% and 95% of their property's value.
The mortgages have no mortgage application processing fee or product fee. They also include a free standard valuation.
Legal fees and a £90 mortgage fee payable on redemption of the loan do apply.
The deals will be available in-branch, online or over the telephone. They will also be offered by the Barnsley and Chelsea building societies.
The Yorkshire, the UK's second largest building society, commissioned research into the incentives and obstacles facing home buyers.
The study, conducted by YouGov, showed that 75% of 2,000 respondents revealed that paying up-front fees was one of the biggest barriers to buying a home.
Jemma Anderson, Yorkshire Building Society mortgage manager, said: "We hope removing our up-front fees and giving £1,000 cashback on this new range of mortgages will help people buy the property they want and turn it into a home."
|
Three year fixed-rates |
Five year fixed-rates |
||
|
65% LTV |
2.19% |
65% LTV |
2.54% |
|
75% LTV |
2.44% |
75% LTV |
2.64% |
|
80% LTV |
2.99% |
85% LTV |
3.34% |
|
90% LTV |
3.59% |
90% LTV |
3.94% |
|
95% LTV |
4.69% |
95% LTV |
4.89% |
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