Yorkshire cuts five-year fixed rate

Yorkshire serves another ace!

The new product will be available from Friday 24th June and offers homebuyers, and those just wanting to move their mortgage, a best buy rate coupled with flexible features.

The main product features are:

- security of a five year rate of 4.54%, fixed until 30/9/2010

- full portability should the borrower wish to move home during the fixed rate period

- overpayments of up to 10% of the capital each year permitted without charge

- interest charged daily

- early repayment charges only applicable during the fixed rate period

- no compulsory insurances

- booking fee £195, completion fee £300

Rachel Court, Head of Mortgages at the Yorkshire said: "Our five year fixed rate mortgage has been our most popular product since we've been able to price at the same level as our two year fixed rate mortgage. The publication of the MPC minutes this morning has seen a swift drop in the funding rates which has given us the opportunity to offer this fantastic five year deal."