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Yorkshire BS offers new ten-year fixed rate

Yorkshire Building Society is introducing a new ten-year fixed rate mortgage today for borrowers with a 25 per cent deposit.

The deal is for both home movers and those looking to remortgage and comes with a rate of 4.99 per cent and a fee of £995.

The building society is also offering borrowers a similar product with a rate of 5.09 per cent, which includes free legal and valuation costs for those remortgaging or a free valuation and £250 cashback for those moving home.

Customers can access the deals with any one of Yorkshire’s 135 branches or on its website.

Product manager Tom Girling says: “his product presents a fantastic opportunity for borrowers looking for long-term value, protection from future interest rate rises and piece of mind when it comes to their mortgage payments.

“This is the first time in a year that a ten-year fixed rate mortgage has been under 5 per cent and although ten years may seem to some like a long time to fix, the new deals are fully portable offering flexibility for those who may wish to move home before the end of the term.”

Yorkshire, the UK’s second largest building society, merged with Chelsea Building Society last December.

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