The battle to attract beleaguered borrowers is hotting up with Yorkshire Building Society, The Co-operative Bank and Nationwide all announcing rate cuts today.
Yorkshire Building Society has cut up to 0.5% off its fixed rate mortgages and halved arrangement fees from £995 to £495. The new range, available to both borrowers who are moving home and those just moving their mortgage, offers a choice of two, three, five and 10 year fixed rates up to 90% of the property price. In addition, re-mortgage borrowers selecting one of the new products can also benefit from free legal and valuations. Tom Girling, mortgage product manager at the Yorkshire Building Society, says: “Despite no changes to the Bank of England base rate, we have seen swap rates fa...
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