Demand rising for longer-term mortgages

21 June 2013

The number of home owners seeking longer-term mortgages is increasing according to Yorkshire Building Society. Product Manager at Yorkshire Building Society, Brendan Gilligan commented on houseladder.co.uk that:

"We understand that for most home owners, their monthly mortgage payment is one of their biggest financial commitments and these excellent competitive rates help them plan for the longer term”.

Mr Gilligan’s comment came after the building society announced it was reducing its mortgage rates which he believes will be welcome news for potential home owners.

Yorkshire Building Society has already reduced its 10 year mortgage rates to 3.89 per cent with 75% loan-to-value (LTV), plus customers will not be charged a fee.

It is also launching a brand new five-year mortgage, at a rate of 2.44%, 65% LTV and with a £1,345 fee, plus a two-year mortgage at 1.69%, with 65% LTV and a £1,345 fee.

@movewithus

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