Yorkshire Building Society Application

Louiseuk25

Hi,

We are first time buyers with an accepted offer on a £177500 house with a 15% deposit. We've been having a shop around for mortgages and have been provided with Nationwide 3 year fixed with a repayment of £894 over 30 years and 995 fee.

We've found a better offer with Yorkshire for 3 years of 5.29%, 495 fee, and £836 monthly repayment, but you can only apply via phone or visiting the branch.

Obviously this is a considerable saving, but wondered if it will slow down our purchase by not having the internet option?
Also, does anyone have any positive or negative experiences of dealing with YBS?

Thanks in advance,

Louise

Robert_Sterling_3

What percentage deposit is required by Yorkshire?

Louiseuk25

Robert_Sterling wrote: »

What percentage deposit is required by Yorkshire?

That's based on a 15% mortgage too.

bockster

i'm with ybs. never had a problem and always good service.
and as far as i know this is the general concensus.
hth
bockster

Riog

They have been recorded as one of the very worst in passing on rate cuts recently namely nothing in regards to the last two BOE reductions, and still have a SVR of 5%. Twice this month they have increased or have withdrawn their best fixed rate deals which are now only available via offset deals.
I do however agree with bockster that they do provide a good customer service.

dwsjarcmcd

No it won't make any difference to you application whether it's via the branch or phone. Personally if there is a branch nearby I would suggest you go there. Most applications are underwriten in the branch anyway, so the won't send it 'to HO' for a decision.

Louiseuk25

Riog wrote: »

They have been recorded as one of the very worst in passing on rate cuts recently namely nothing in regards to the last two BOE reductions, and still have a SVR of 5%. Twice this month they have increased or have withdrawn their best fixed rate deals which are now only available via offset deals.
I do however agree with bockster that they do provide a good customer service.

Thanks Riog,
They still come out with by far the most competitive quote though for us first time buyers, so in a 3 year fixed I don't think we'd be disadvantaged by them not passing on any further BOE Int rate reductions?

Louiseuk25

dwsjarcmcd wrote: »

No it won't make any difference to you application whether it's via the branch or phone. Personally if there is a branch nearby I would suggest you go there. Most applications are underwriten in the branch anyway, so the won't send it 'to HO' for a decision.

Thanks DW, I guess, if anything we'll benefit from the face to face service.

I think the only reason I am a bit scared is because we don't have the option to do it via a broker-we were prepared to pay the fee to take away the 'inconvenience' of sorting it all ourselves (whatever 'all' is?!). but a saving of over £700 a year must be worth it!

dwsjarcmcd

Louise,
YBS don't operate via brokers at all, and I suspect that if you've chosen this product, then the branch staff can sort it 'all' for you anyway (thus saving a fee!)

dimbo61

Top lender I have been with YBS for last 4 years
There offset mortgage are very good and a great place to build up your savings for the future.
Excellent service at my local branch ( Nantwich )
Not the fastest to cut the interest rates but also offering some of the best saving rates long term
A proper building society !!!
If only others had followed its buisness plan !!

Riog

dimbo61 wrote: »

Not the fastest to cut the interest rates

But very much the fastest to increase their rates, for the THIRD time this month they
have raised the fixed interest rates for existing customers.