Yorkshire Building Society mortgage products

manikm

Hi everyone,

_http://ybs.co.uk/mortgages/current_products/products/5yr_fix_04.jsp

Its a 6.09% rate for 5 year (90% LTV)

I will be remortgaging from RBS.

Now, it has a fee etc - but will i have to pay extra for legals and valuation and other hidden costs or is it included in the £995 fee? (of which you get 500 quid back at completion?)

Is this deal any different from the Nationwide one for example? in terms of hidden costs etc.

5 Year Fixed
6.38%6.7% APR FEE£599

YBS has a slightly dearer arrangement fee? but a much better rate!!

But cos broker applications aren't accepted i dont know what to do? go with my broker and nationwide, or go it alone with YBS...?

Many thanks!!!

hostman

YBS are a good bank. I have significant savings with them and I like their systems, customer service etc.

It is a good rate, but as you say, a larger product fee.

This puts me in a slight dilemma, because we're using a broker to arrange a mortgage through Nationwide, we have an agreement in principle with them. But in recent weeks, lots of lenders have been reducing their rates. Nationwide right now are looking expensive for a five year fix. We have a 15% deposit, not enough to slip in under 25%. I'll need to decide if its worth continuing with the broker, or go it alone.

Problem is, calling off the broker could incur a fee for the work he has already completed.

manikm

hostman wrote: »

YBS are a good bank. I have significant savings with them and I like their systems, customer service etc.

It is a good rate, but as you say, a larger product fee.

This puts me in a slight dilemma, because we're using a broker to arrange a mortgage through Nationwide, we have an agreement in principle with them. But in recent weeks, lots of lenders have been reducing their rates. Nationwide right now are looking expensive for a five year fix. We have a 15% deposit, not enough to slip in under 25%. I'll need to decide if its worth continuing with the broker, or go it alone.

Problem is, calling off the broker could incur a fee for the work he has already completed.

yeah, im in a similar position really - but defo no fee to broker - that was the agreement from the start.

will there be hidden costs with YBS such as getting a valuation done and other stuff? or will that be inc in the 995 fee?

hostman

manikm wrote: »

yeah, im in a similar position really - but defo no fee to broker - that was the agreement from the start.

will there be hidden costs with YBS such as getting a valuation done and other stuff? or will that be inc in the 995 fee?

One would imagine you'll need to pay the valuation and survey same as before, on top of the "product fee".

manikm

spoke to them today....

its £195 app fee (non refundable)

a valuation is £290

legals is about £400

plus the 995 fee.


BUT u get 500 quid cash back if all goes through....

i think over a 5 year fixed deal - it works out about 400 quid less overall for the term than the Cheltenham and Gloucester deal on a rate of 6.25