Britain’s lowest-ever mortgage rate has been launched,
priced at 0.89% for two years. The new move by the Yorkshire Building Society
suggests that competition in the home loans market may be intensifying. The
previous lowest rate was 0.98%. The Yorkshire’s claim to be offering an
“all-time low” rate was verified by the financial data provider Moneyfacts, but
is not fixed. It is pegged to the society’s standard variable rate (SVR),
offering a discount for two years, so it is not for homebuyers looking for the
certainty of fixed monthly payments. The deal is also restricted to people
needing to borrow no more than 65% of the value of their property and who are
happy to pay a fee of £1,495. Read more on the Daily Express website.
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