Yorkshire Building Society launches new mortgages

One of the UK''s biggest building societies has announced it is launching two new mortgages.

Yorkshire Building Society is introducing a two-year fixed deal with a rate of 5.99 per cent and fee of £1,995, as well as a five-year fixed product with the same rate and a £2,495 fee.

The maximum loan to value for both products, which will be available from June 23rd, is 75 per cent.

Yorkshire''s mortgage product manager Tom Girling said current market conditions have led to some borrowers finding it difficult to afford repayments.

He added: "These new products have been designed to help borrowers manage their monthly budgets and at the same time provide peace of mind from the security that their payments won''t change during the term they have chosen."

Earlier this week, Nationwide announced that rises in money market rates have led it to increase rates on a number of its mortgage products, including those for house purchase, remortgage and additional borrowing.

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