News that Clydesdale and Yorkshire Banks have announced new low two and five year fixed rates has provided a welcome boost for those people seeking a mortgage. It means that it is now possible for those looking to move home or remortgage to benefit from a rate of 2.49% on a two year fixed mortgage with 60% LTV or 2.99% on a five year fixed mortgage with 60% LTV.
The Banks are also waiving arrangement fees for all of their existing customers looking to take a new mortgage or switch mortgages before 11 May 2013. This represents a saving of up to £999 – the current re-mortgage arrangement fee.
The £999 mortgage arrangement fee will also be waived for new customers who are moving their mortgage and who open an account with Clydesdale and Yorkshire Banks. Those moving their mortgage from another lender will benefit from £500 off the arrangement fee, and they will not have to pay any legal or valuation fees if they use Clydesdale and Yorkshire Banks’ appointed solicitors and valuers.
Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks, said that many people were now opting for fixed rate mortgages which enabled them to know exactly how much their mortgage payments would be on a monthly basis. He added that the focus of the banks would continue be on offering as wide a range of competitive products as possible in order to meet the differing needs of their customers.