New re-mortgaging offer from Yorkshire Building Society

 

NEW RE-MORTGAGING OFFER FROM YORKSHIRE BUILDING SOCIETY
Article date: 13/10/2005 : 14:22:52

Yorkshire Building Society (YBS) has launched a two-year mortgage specifically for people who are changing their mortgage but not moving house.

The mortgage has a fixed interest rate of 4.39 per cent and customers will receive a free re-mortgaging legal service and free accident, sickness and unemployment cover for the first six months.

Rachel Court, head of mortgages at YBS said: "The number of people looking to re-mortgage over recent weeks has been the highest we have ever known.

"At the Yorkshire we usually design products that are available to everyone, whether they are moving home or just switching their mortgage, but it seemed appropriate at this time to design a product specifically for the re-mortgagors."

What is happening with YBS is part of a national trend that has seen a large increase in people re-mortgaging.

According to figures from the Council of Mortgage Lenders, total UK re-mortgaging went up by 15 per cent to £11.7 billion in August from £10.2 billion in July, reaching its highest level since October 2003.

Customers do not have to sell any compulsory insurance policies to get the YBS mortgage, but an application fee of £495 is needed.
 
 
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