17
Feb
Yorkshire Building Society launches first-time buyer products
Yorkshire Building Society has launched a new range of mortgages
designed for first-time buyers.
The financial institution revealed that it has developed a
selection of fixed-rate deals with the aim of reducing the cost of
stepping on to the property ladder.
There are three products on offer to first-time buyers, all
available with a loan-to-value of up to 85 per cent.
Rates vary between 5.39 per cent for a two-year fixed rate mortgage
and 5.89 per cent for a five-year fixed rate loan.
A three-year fixed rate deal is also available at 5.69 per
cent.
Tom Girling, product manager for mortgages at the company,
commented: "With signs of increased activity in the first-time
buyer market, we wanted to make sure that we had a really
comprehensive range of mortgages [for first-time buyers]."
Figures released by the Council of Mortgage Lenders on February
12th revealed that in December, 24,900 loans were approved for
first-time buyers, the highest level in the market since November
2007.