Yorkshire Building Society launches new tracker rate mortgages

Following last week's 'no change' base rate decision and the subsequent reduction in funding rates, Yorkshire Building Society has taken the opportunity to revise its mortgage product range.

The new product range is available with immediate effect and includes short, medium and long term fixed rates together with tracker rate mortgages.

There are also a fee assist versions of each product, which do not require an arrangement fee and offer a contribution to cover the cost of valuation and legal costs.

Ian Bullock, the Society's general manager, said: "With speculation that the Bank of England base rate may have peaked at 4.75 per cent, or at least be close to peaking, we have been able to secure funding at very competitive rates."

He continued: "Our product range now provides customers with security of payments whether they choose a fixed or tracker rate. We have made sure that we have excellent fixed rate products available, the traditional mortgage for those looking for payment security.

"However our tracker rate mortgage without any early repayment charges provides borrowers with the opportunity to take advantage if rates reduce during the first two years together with the security of knowing that they can switch to a different mortgage if rates go up."