Yorkshire Bank

Compaq

I heard in the news that Yorkshire Bank is setting up a new way to get mortgage for the couples who are seperated or divorced, can you or anyone else shine more light into this matter & if it is a good thing to go for?

YorkshireBoy

It's actually Yorkshire Building Society, and they've called it their "Fresh Start Mortgage".

http://www.ybs.co.uk/mortgages/current_products/fs_mortgage_products.jsp

Fairdo_2

Can't add to that Yorkshire Boy.

I did read about it, but now can't remember whether it was in "Mortgage Strategy" or "Mortgage Introducer".

Other experts with better memory may be able to say?

ReportInvestor

Mail - Breaking up is now easier to do

Brokers claim to like the flexibility of this mortgage rather than the access to counselling services. I think I read about it in Mortgage Introducer but I can't find the link.

ReportInvestor

More details from the Times

"...Paul Hearnden at My Mortgage Direct, a broker, said: “The fixed-rate Freshstart is very competitive if you need a 100% mortgage. But there are cheaper deals if you have a deposit of 10% or more.”

"...Yorkshire building society’s new mortgage charging 0% for the first six months, coupled with a more relaxed view of maintenance payments. Many divorcees struggle to get a mortgage because most lenders are reluctant to include maintenance payments as income..."