17 Feb

Yorkshire Building Society launches first-time buyer products

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.ADNFCR-1222-ID-19619978-ADNFCR

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