MortgagesOct 31 2014

Yorkshire and Chelsea cut rates for 5% deposit borrowers

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Yorkshire Building Society has reduced rates for borrowers with a 5 per cent deposit.

The new deals will be on its highest loan-to-value products from today (31 October) on 2-year fixed term mortgages.

The 2-year 95 per cent LTV fixed rate will be reduced by 0.25 per cent from 4.99 per cent to 4.74 per cent, with an £845 product fee and a £130 mortgage processing fee.

Chelsea Building Society, part of the YBS Group, will also introduce a 0.25 per cent reduction on its equivalent 95 per cent LTV product.

Its 2-year fixed rate mortgage will go from 4.89 per cent to 4.64 per cent, with a product fee of £1,545 and a £130 mortgage processing fee.

Further reductions will be made on the Yorkshire and Chelsea products at 65, 75, 85 and 90 per cent LTV mortgages.

peter.walker@ft.com