If you are looking for the best mortgage rate to suit your financial needs, the Yorkshire Building Society and internet bank smile have both launched new mortgage products this week.
The internet bank has released details of a new two-year tracker mortgage which is guaranteed to match the Bank of England’s base rate plus an additional 0.04 per cent.
Another two-year mortgage product has been launched by smile, with a fixed rate of 5.34 per cent. Both schemes are provided by the Co-operative Bank and an annual donation to Climate Care will be made by smile for the duration of the mortgage to help tackle global warming.
Currently, smile does not enforce higher lending charges on those who wish to borrow more than 95 per cent of the value of the property.
Meanwhile, the Yorkshire Building Society has announced a range of four fixed-rate mortgages varying from two to ten years. A £200 Christmas bonus is to be offered on the two and three-year loans for borrowers who move their mortgage before December 25th 2006.
The portable mortgages are charged interest daily and a fee of £595 is applicable to each of the products.
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