New mortgages from Yorkshire and Co-op

Yorkshire Building Society is launching two new 25-year fixed-rate mortgages, on the 15th August.

The loans, which will only be available through the Society’s branch network, have interest rates of 6.29% and 6.49%, and both allow borrowers to overpay by 10% each year without charge.

The new products have a maximum LTV of 90% and are fully portable. Both incur an arrangement fee of £595.

The mortgage charging interest at 6.29% has an early repayment charge of 3% for the first 10 years.

In the case of the 6.49% offer, a 3% charge will be made for early repayment in the first 5 years.

At the same time, the Co-operative Bank has launched a new-two year tracker product.

The current interest rate is 5.14% variable (Bank of England Base Rate -0.61%), and the loan comes with a £999 application fee. For remortgages, there are no legal or valuation charges and no higher lending charge.

Applicants have the option of receiving a free home energy report with their property valuation.
This will assesses the energy efficiency of the property and identifies ways in which it can be improved.

Maximum LTV is 95%, with a 3% early repayment charge during the first two years.

Borrowers opting for this mortgage will also be helping to tackle climate change, as the Co-op will make a donation to Climate Care each year, for the duration of the mortgage.

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