The Yorkshire Building Society is reducing its flexible mortgage rate as of next week from 6.74% to 6...
The group is also keen to accelerate its programme to convert borrowers from its annual interest standard variable rate of 7.09% to the daily interest flexible rate of 6.45%.
David Anderson, chief executive of Yorkshire Building Society, said: "We will step up our programme of writing to borrowers starting with the longest standing. All a borrower will have to do is sign an acknowledgement that the terms and conditions of their mortgage are being altered and we will do the rest. We expect to complete the exercise in the next 12 months."
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