Lenders 3 yr fixed rate mortgage deals become more competitive.
Yorkshire Building Society recently announced its 3 yr fixed rate mortgage deals have been cut to reflect cheaper funding costs.
The Building Society has reduced its rates by 0.3% across its range of 75% LTV fixed and tracker deals. A 3 yr fixed rate mortgage is now on offer at a rate of 3.49% with a fee of just under £1,000.
The Chelsea Building Society has also announced that its 3 year fixed rate has been cut, a deal is now on offer for up to70% loan to value at a rate of 3.34%. This new mortgage comes with a £200 application fee and a £1,500 completion fee.
The lender advises that the completion fee can be added to the mortgage. However you should carefully about doing this as you will pay interest on the fee for the entire term of the mortgage.
Interest only lending has been tightened by the Yorkshire Building Society where property sale is the proposed means of repaying the loan. The maximum LTV now allowed for interest only mortgage deals will be 50% which is in line with most other lenders.
These changes apply to all Yorkshire Building Society brands, including the Chelsea Building Society, Accord Mortgages and Barnsley Building Society.
For impartial mortgage advice and a competitive 3 yr fixed rate mortgage quote call independent 'whole of market' broker Deal Direct.
Call one of our advisers today.
