New four-year fixed rate released by YBS

Lending mutual Yorkshire Building Society has bucked the normal trend of two-, three- and five-year fixed-rate mortgages by launching a range of such products spanning four years.

Its aim is to provide a wider variety of options to its borrowers, with customers having access to rates of 1.89% if they have a 35% deposit, or 2.29% with a 25% deposit. A 10% deposit can secure a four-year fixed at 3.54%. The new products all have a booking fee of just under £850 attached to them.

The mutual’s product manager, Brendan Gilligan, said that by providing a more varied range of products, the firm would appeal to a greater section of borrowers. Its goal was to target those who wanted to give their mortgage repayments a bit more security than simply fixing for just two years.

Gilligan explained:

“We think four-year fixed rates will appeal to customers looking for something in between a two and five-year fixed rate mortgage, yet few providers offer this option to customers, which is why we’ve decided to launch our own range.”

He added that offering the rates at three different LTVs, or loan-to-value, will hopefully appeal to a broader spectrum of borrowers.

As a mortgage advisor, you will be best placed to guide and support your customers as they start their mortgage journey. Once you have completed your CeMAP training and passed the exam, you will be qualified to complete a full assessment of your customers’ income and expenditure, enabling you to make an honest and transparent recommendation as to their most suitable mortgage solution.



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