Financial Services Industry
Industry: Email Alert RSS FeedNew Product - York rewarding customers.(Yorkshire Building Society)(Brief Article)
Financial Adviser, August, 2005
YORKSHIRE Building Society has launched a limited-issue stepped-rate mortgage, available exclusively to existing borrowers.
The mortgage is being launched as many fixed-rate deals come to an end and the society is hopeful it will help borrowers unable to pay the reversion rates.
It will be charged at 3.99 per cent fixed for the first year and 4.69 per cent for the second year, equalling a two-year fixed rate of 4.34 per cent.
Karen Miller, product manager at Yorkshire Building Society, said some providers leave their existing borrowers out in the cold.
She said: "Many lenders only offer their best rates to new customers and existing borrowers have to choose inferior products."
Ms Miller said more than 3300 borrowers with the...
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