Yorkshire Building Society

pab1959

Hi is anyone else with the yorkshire? our mortgage hasnt come down , not one penny since all these interest cuts, is this allowed? we only have three years left and dont know whether it would be worth re-mortgaging again. can anyone help ?

_Andy_

Is your rate a fixed one?

dimbo61

Hi I am with the YBS on a fixed rate deal and my mortgage has not changed one penny in the last 3 years.
Check the terms and condotions of your mortgage offer
Are you on a fixed rate deal ?
what happens after that deal ends ?
Some of the YBS mortgage deals go onto a tracker deal after the fixed rate ends so read all the paperwork carefully or ring up the mortgage centre ( nice people )
Dont know how much you owe with 3 years left but you need to see what happens with your existing mortgage before looking at another deal/ lender.

_Andy_

If its a fixed rate it won't change - hence it being called 'fixed'.

pab1959

I was on a fixed rate but came out of it about 8 months ago and never really had time to do much about it, but it went up with such a jump and as i said didnt come down even with all the interest cuts.

tbrain

It sounds as though you were moved onto the Yorkshire SVR, or standard variable rate of 4.99% when you came to the end of your fixed rate term.

dwsjarcmcd

YBS has an annual review of their mortgages, which means that if you are on SVR, the rate cuts won't have fed through to your payments yet. You will be getting a statement soon, which will show your new payments which will start in April and will reflect the reductions.

David

Harvs98

I have just spoken to the YBS and they have said they review their rates annually. Your rate will change in the meantime only if you call them up and specifically ask them.

With the recent BoE changes, the new rates will apply from March. I asked about the 'overpayments' and they said there will be no penalty.

pab1959

Thanks for all the help, will be in touch with ybs to see what i can do.

hairybloke

Hi,

Anybody know if Yorkshire are going to drop their SVR, we've just finished our 2 year fixed deal at 6.09% and are now on the SVR of 4.99% which still seems high based on BOE rate.

Will move somewhere else if they don't do something soon

Steve

Riog

hairybloke wrote: »

Hi,

Anybody know if Yorkshire are going to drop their SVR, we've just finished our 2 year fixed deal at 6.09% and are now on the SVR of 4.99% which still seems high based on BOE rate.

Will move somewhere else if they don't do something soon

Steve

They have refused to cut their SVR on the last three BOE cuts and indeed offer some of the very worst fixed rates for existing customers, i would move elsewhere whilst you can as there are much better deals on offer elsewhere.