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Clydesdale and Yorkshire boost range

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04/09/2015
First-time buyers now have access to a new range of products from Clydesdale and Yorkshire banks.

The lenders have launched a selection of new fixed rate mortgages, many of which come without arrangement fees.

Clydesdale and Yorkshire said it was reacting to market changes and wanted to help more first-time buyers onto the property ladder, as well as those looking to remortgage or move home.

New products include a three-year fix for borrowers with a 5% deposit, available at 4.49% and without fees.

At 90% loan-to-value, a three-year fix is available at 3.09%, also fee-free.

Both deals are available with £250 cashback, no funds transfer fee and one free valuation, the banks said.

For existing homeowners, both Clydesdale and Yorkshire banks have lowered rates across a number of products. Their range now includes a two-year fixed 90% loan-to-value mortgage at 2.89%, with no fees, or a five-year fix at 3.39%, also at 90% loan-to-value.

Your Mortgage reported earlier this week that homeowners were increasingly taking advantage of high house prices by releasing cash from their home.

In July the typical remortgage loan topped £170,000 for first time, with the loan size rising 2% compared to the previous month, a report said.

Rising property prices across much of the country meant the average value of a remortgaged home was £300,898 – the highest level for nine months.

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