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TODAY'S OTHER NEWS

Yorkshire BS launches "outstanding" 95% LTV fix

Yorkshire Building Society has just launched a new two-year fixed rate mortgage priced at 3.68% until 31 January 2018.

This deal is for first and second-time buyers who borrow from £50,000 to £500,000 at 95% LTV.

A fee of £975 is payable, of which £845 can be added to the mortgage.

The new mortgage has been rated ‘outstanding’ by Moneyfacts.co.uk, the highest rating it awards.           

Charlotte Nelson, finance expert at Moneyfacts.co.uk, said: “Yorkshire Building Society has improved its range for smaller deposit holders, with the 3.68% two-year fixed rate deal and enters the 95% LTV market as one of the lowest deals in its sector.

“This competitive offer is likely to be an attractive to those with a modest deposit of 5% looking to keep their monthly repayments down."

Nelson said the 95% LTV market is the strongest it has been for a long time with the average rate falling and the number of products increasing from 109 two years ago to 242 today.

“In that time we have seen the average two-year fixed rate mortgage at 95% LTV decrease from 5.01% two years ago to 4.29% today.”

She said the improving 95% LTV mortgage market will come as a welcome relief to many borrowers who have struggled to find suitable mortgage deals within their financial capabilities.

“However, these deals won’t be available forever, so borrowers need to act fast."

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