Yorkshire Building Society

Little_Miss_Penny_Less

I'm after some advice on Yorkshire Building Society - they appear to have some good fixed rate mortgage offerings but I'm wondering if there's a catch??

Are they not a good lender? Are they ridiculously harsh credit scorers or something?

Also, can anyone advise a calculator that would help me work out what adding various fees to mortgages does in comparision to upping the interest rate? i.e. the fees-free option is 0.5% higher that the £1000 fee option...

Thanks ever so much :-)

friendlymortgageadviser

Hi,

The Yorkshire Building Society do offer very good interest rates but their lending criteria is very strict, so be careful.

I had a client who decided to go direct to them and after 3 weeks came back to me as they were unable to offer him a mortgage.

The Yorkshire should have a mortgage repayments calculator on their website, just add the arrangement fee to the loan amount on the calculator!

Little_Miss_Penny_Less

Thank you friendlymortgageadvisor, that is a help. I assumed it would be the case that their criteria must be pretty tight to offer such competitive rates.

Daniel_gecko

I wanted to go with the YBS 3.99% fix for 5 years with 995 fee + 300 valuation, but my broker won't deal with them.
The closest I can get is 4.59% fix for 5 years with ING, with 0 fee and 130 valuation. Loses me about £2k-£3k over the 5 year period!
Darn broker :mad:

Chin

Daniel_gecko wrote: »

I wanted to go with the YBS 3.99% fix for 5 years with 995 fee + 300 valuation, but my broker won't deal with them.
The closest I can get is 4.59% fix for 5 years with ING, with 0 fee and 130 valuation. Loses me about £2k-£3k over the 5 year period!
Darn broker :mad:

Your broker wont deal with them because your broker cant deal with them.
they only deal with clients direct.

If you have a good credit rating and your case isnt out of the ordinary go direct, it's easy.

dimbo61

I have been a YBS customer for last 6/7 years and have found by local branch to be great
I love the offset mortgages they offer

joolzpop

I have found them great too. They are really good at transferring you onto another competetive deal when your fixed rate ends. They are strict in working out what you can borrow tho. When I moved house they told me I could increase my mortgage and borrow a certain amount but then decreased it after scrutinising all my income info. I didn't find that out til I received a letter with the lower amount in so had to rush to borrow some from my dad so the house sale could go through.

handytips

They also have a broker arm called Accord who also have very good deals every now and then. Criteria with both are stiff.
Remember The rate isnt the be all and end all of a mortgage selection. very often a product with a rate higher than the lowest rated product will work out cheaper in the long run.
I love this forum. The hang up on getting the lowest rate, really makes me shudder, its not everything. One thing to consider, do you want to waste your time chasing the rate to be knocked back a few times, or get placed with a lender where the rate is probably within 0.25 of the best rate and actually get an OFFER. Just a thought people