Yorkshire Building Society 95% mortgages beat help to buy deals

Yorkshire Building Society has today launched 36 new 95% LTV mortgages including deals through its Chelsea BS and Norwich and Peterborough BS brands.

There are a wide range of mortgage options to choose from with different rate and fee combinations with some of the 5% deposit home loans offering cashback too.

The rates are far more competitive than some of the headline deals launched under the Governments ‘Help to Buy’ scheme.

For example Halifax is charging interest at 5.59% (no fee) for a 2 year fixed rate 5% deposit mortgage, yet with Yorkshire Building Society the rate is 4.89% with no fee and £500 cashback.

On a £120,000 mortgage (25 years) the 0.70% lower rate will save you £50 per month on your repayments, so including the cashback you’d be £1700 better off with the Yorkshire deal over the first two years.

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