Yorkshire Bank Mortgages

Compare Yorkshire Bank Mortgages. Yorkshire Bank is a trading division of Clydesdale Bank operating mainly in the North of England. They provide mortgages for homeowners, first time buyers and buy to let landlords.

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Compare Yorkshire Bank mortgages

Depending on your individual borrowing requirements, Yorkshire Bank have several mortgage options which may be suitable.

First Time Buyer mortgages

For those looking to purchase a first home, Yorkshire Bank offer a range of options to help. Depending on your circumstances, you could borrow anything up to 95% of the property’s value.

Yorkshire Bank offer fixed rate mortgages which can make your repayments more predictable. They also offer discounted rate mortgages which could potentially make your borrowing cheaper. In both cases, the fixed or discount rate only applies for an introductory period, after which the interest will revert to a standard variable rate.

Offset mortgages

An offset mortgage allows you to use your savings to reduce the monthly interest payments on your mortgage and potentially pay the capital off faster. You can link one or more savings accounts to your mortgage, meaning the balance in those accounts is deducted from the capital on which you are charged interest.

So, if your mortgage is for £100,000 and you have savings of £20,000 in a linked account or accounts, you will only pay interest on a sum of £80,000. This can let you pay less each month or use the extra to pay down the capital. You will not, however, earn interest on your savings using this method.

Buy to Let mortgages

If you are interested in buying your first rental property and you already have a mortgage then Yorkshire Bank may be able to help. Whether you are interested in starting out in the buy to let sector or are looking to expand your current letting portfolio then Yorkshire Bank offer a range of buy to let options.

Remortgaging with the Yorkshire Bank

People transfer their mortgage for a number of reasons: it can let you switch to a better interest rate or let you borrow more, thus unlocking extra capital from your property. If you are not happy with the amount that you pay each month or would like to increase your total borrowing then Yorkshire Bank can help.

Loan to value ratio

The amount you can borrow is one of the most important considerations when comparing mortgage products on offer. The mortgage provider will decide this partly on your income, but it will also depend on the loan to value ratio or LTV.

A mortgage product’s LTV is the maximum percentage of a property’s value you will be able to borrow with that particular mortgage. So, if the max LTV is 70% and you are looking at a property worth £100,000, you will be able to borrow up to £70,000.

Find the best deals on mortgage rates

If you are looking to find the best deals on mortgage rates, our mortgage calculator will provide you with a range of suitable options so that you can pick a deal which offers you what you need at the best value possible.

By heading to the top of the page and providing some basic details such as your repayment time frame and how much you’re planning to borrow, our calculator can match you with a range of lenders which fit your needs.

Independent Mortgage Advice

Remortgaging is particularly popular at the moment as interest rates are low.

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Whether it will be a good idea for you to remortgage depends on a number of factors, including your goals and your personal circumstances.

However, in general, if interest rates are lower than you are currently paying on your mortgage, it may be a good time to remortgage.

If interest rate are higher than you are currently paying, it may be better to look at other options, such as a second mortgage or a personal loan (if you aim is to borrow more).

If you are not sure whether now is the right time to remortgage, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice.