Yorkshire BS mortgages - any experiences?

monkey_writer

Thinking of going with a 2 year fixed mortgage from Yorkshire Building Society. I like their mutual status and their rates are good.

Has anyone had any experiences with them - good or bad?

Cheers!

MM2005

Hiya MW

I've just signed up with them for a 5 year fixed (offset) on a remortgage. Initially had a few re-routing of calls to get the right person when I first called with queries, but since the application (which goes to your local branch) they've been great. Got everything signed etc. on Monday and already had surveyor out to value and recived solicitors letter (it's a fee free once) this morning asking to complete a few details. So far great...

gooismeid

I'm sure one of the IFAs will correct me if I'm wrong, but I think Accord Mortgages (sold mainly through IFAs) is the "provisional wing" of Yorkshire BS. We've had a mortage with them for 2 years and have received prompt and efficient service from their callcentre over various questions and requests from me. Reason I was dealing direct? My IFA turned out not to be independent any more and tried to sell me a whole bunch of insurance policies I did not need. Accord didn't bat an eyelid and were happy to deal direct with me after I explained why.

monkey_writer

MM2005 - your fee free solicitor - how does that work? Is that where the building society puts £250 towards legal fees? Are they acting for you for the whole sale or just for the lender?

homer_j_3

accord is part of the Yorkshire BS and free legal fees will mean that they have negotiated basic conveyancing service with a solicitor to take care of this or some will refund upto "x" amount upon presentation of the bill if you prefer to use your local solicitor.

Froggitt

Had a 5 year fix and am on another one now. My main gripe is that the charge existing customers higher arrangement fees than they charge non-customers.

What price loyalty huh?

peterg1965

Monkey writer.....
I posted a thread on here a couple of weeks ago about my experience with trying to Remortgage with YBS. Its a long story, and whilst my experience with the local YBS branch was actually favourable it was their appointed valuer who caused me lots of pain and grief...in fact £605 worth of it!

It may be because the YBS is relatively small and asks its valuers to be cautious but the valuation on my house came in at nearly £100K less than I thought it should be and it therefore meant that the Loan to Value percentage was too high for the mortgage. As a comparison I am with Nationwide and their computer based house price index valued my house at £407K based on original purchase price and geographic location. This is a bit rough and ready and I actually think it is over optimistic but I personally put a value on my house of £380K. The man appointed by the YBS valued at £285K despite evidence that similar houses to mine had sold recently for much more. It cost me £410 in wasted valuation fee and £195 in lost product reservation fee!

So in essence be a little wary of their valuation process, I may just have been unlucky!

MM2005

monkey_writer wrote:

MM2005 - your fee free solicitor - how does that work? Is that where the building society puts £250 towards legal fees? Are they acting for you for the whole sale or just for the lender?

Not sure of the figure they put towards legal fees if you appoint your own (which you can do). Basically I opted for them to use one of their appointed solicitors (I assume they get a deal for bulk mortgaging) - they are acting on my behalf but YBS pay them directly.

On the offset deal I'm applying for I paid £290 towards a standard valuation, which I get back once the application is successful etc. I also paid £195 of a £495 product fee. I pay the £300 on completion.

All well so far - even had someone from YBS call me yesterday asking how it was going. You could ask that maybe they should have known, but then again my local branch are dealing with it now - maybe they hadn't updated my file...

monkey_writer

Is yours a first time buyer package?

MM2005

monkey_writer wrote:

Is yours a first time buyer package?

Nope, it's a remortgage:

http://www.ybs.co.uk/mortgages/current_products/products/offset_fixed_311210.jsp

Merlin139

Been with YBS since Jan 2004. I remortgaged from Virgin One Account. Went for fixed rate for 3 years instaed of the Offset Mortgage. Too easy to increase value of mortgage everytime I changed cars and motorbikes. Increased mortgage by 26K in 4 years. Make extra payments most weeks. Even paid in 43K in cash last June and no problems. Always had super service from them. Now know most of the staff in 3 branches quit well. Would recommend them to anyone.

Still looking for better deal in Nov before fixed rate runs out in Jan 2007. If I moved before then would have to pay back 3% of original Loan £3750.

Will go to place where I can get best deal then. Even though service has been excellent.