Yorkshire Building Society Fixed 4.89% 2 Years

Otis_P_Jivefunk

Hi everyone, I've seen this deal at the top (or second) in most best buy tables, it seems to have a significantly lower rate than most other fixed rate deals out there.

I meet the criteria >25% deposit, 128k left to pay of 210k value.

Are there any catches here I'm missing? Is this too good to be true?
Am I right in thinking I need to arrange this direct with YBS? It wont be with a broker?

Gambler

Otis_P_Jivefunk wrote: »

Hi everyone, I've seen this deal at the top (or second) in most best buy tables, it seems to have a significantly lower rate than most other fixed rate deals out there.

I meet the criteria >25% deposit, 128k left to pay of 210k value.

Are there any catches here I'm missing? Is this too good to be true?
Am I right in thinking I need to arrange this direct with YBS? It wont be with a broker?

I'm guessing a large % fee?

Otis_P_Jivefunk

Fee is £995, £195 to be paid upfront.

That doesn't sound too bad if I only have to pay £195, the rest going on the mortgage.

HelpWhereIcan

yep, Cracking deal.

Do not forget that the number of years you have left on your mortgage should be taken into account.

Use something like http://www.moneyfacts.co.uk/searches/mortgage.aspx and http://www.fsa.gov.uk/tables to make sure that you get the best deal by calculating the total to pay over the 2 years - use the 'Ask me more' button on the moneyfacts search to have that done (that way the fees etc you need to pay will also be taken into account.)

If you want it you would need to either arrange it yourself or use a broker who will administer it for you for a fee.

hope this helps

dimbo61

hi otis I am with YBS and am very happy with them ( local branch )
but why just 2 years are you paying off £128k in the 2 years ?
expecting to win the lottery !!!
Why pay £995 fees for 2 years and have the same problem in 2 years time.
look at there 5 year deals and then you can make serious in roads into that £128k mortgage. also consider offset mortgages as very good for some people. GOOD LUCK

RavingMad

The downside to YBS is that existing borrowers don't get the same deals as new customers

Otis_P_Jivefunk

Cheers for your advice guys.

Is it a hassle to arrange yourself? There isn't long until our current deal runs out (end of March 2008) so I'd like to get cracking with it. Any experience doing this?

allan673

easy to sort out yourself, i would start thr process a.s.a.p if your deal finishes in march, they do a 5 year fix at 5.19% which is good, therefore you avoid the fees in 2 years time, plus you have the security of knowing what your paying for 5 years.

dwsjarcmcd

If your set on this deal, you can arrange it online.

TwelfthMan

RavingMad wrote: »

The downside to YBS is that existing borrowers don't get the same deals as new customers

Really?? Tell me some lenders that will then?? Ridiculous statement.

TwelfthMan

Otis_P_Jivefunk wrote: »

Hi everyone, I've seen this deal at the top (or second) in most best buy tables, it seems to have a significantly lower rate than most other fixed rate deals out there.

I meet the criteria >25% deposit, 128k left to pay of 210k value.

Are there any catches here I'm missing? Is this too good to be true?
Am I right in thinking I need to arrange this direct with YBS? It wont be with a broker?

I'm a YBS adviser (for now) and we have been absolutely hammered this week with enquiries from people wanting to make applications on the whole suite of products particularly from customers wanting <75% LTV.

My diary is full up right up to next Wednesday with 3 appts a day and every one of them is looking to apply for remortgage or house purchase on these fixed rates.