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Yorkshire cuts five-year fixed mortgage rate

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Yorkshire Building Society has cut the mortgage rate on its five-year fixed rate mortgage to offer one of the most competitive mortgage rates available.

The new mortgage rate is set at 4.49 per cent until October 31st 2010.

According to the Society's Rachel Court, head of mortgages, this five-year fixed mortgage rate offers homebuyers and remortgagers a great mortgage rate with flexible features and the security associated with a fixed mortgage rate product.

The mortgage is fully portable, so mortgage borrowers could move house during the fixed rate mortgage period without it affecting mortgage payments .

Charge-free overpayments of up to 10 per cent of the capital are allowed every year, and early repayment charges are only applicable during the fixed rate period.

Interest is charged daily, giving mortgage holders immediate benefit for all repayments.

Ms Court commented: Interest on Yorkshire's entire mortgage range is charged daily. This makes our new five year fix even more competitive when compared to deals available from some other lenders .

Yorkshire Building Society is one of the largest building societies, providing mortgages to customers at 131 branches in the UK.

As a prime mortgage lender, it is committed to mutuality and is determined to return real financial benefits to its mortgage holders. Its purpose is to maximise long-term benefits for a growing membership.

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