Yorkshire Building Society has reduced the rate of its two-year fixed rate mortgage for small deposit holders by 0.10%, earning it the top accolade as a result.
This mortgage now has a highly competitive rate of 3.68% fixed for two years, the lowest rate currently offered in its sector. It is available at a loan-to-value (LTV) of 95% and has a fee of £975.
This deal is available to house purchase customers with a modest deposit of 5%. There are no incentives accompanying the mortgage, but borrowers can take advantage of a plethora of flexible repayment options: overpayments, underpayments and payment holidays are all permitted, provided certain conditions are met.
The rate cut to this mortgage deal has honed its competitive edge and made it stand out from the crowd. Not only does it boast the lowest rate for its sector, but it also offers borrowers great flexibility in terms of their repayments, which is sure to attract those who want greater control. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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