Mortgages
By using this site you are consenting to the use of cookies. About cookies and why we use them
Look out for a change in the appearance of your YBS website soon. We are redesigning the site and will be launching the new website in the next few weeks.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
{{mortgageListing.mortgages.length | displayMortgageCount}}
{{mortgageListing.mortgages.length | displayMortgageCount}}
{{product['Term']}} Year {{product['Rate 1 Type']}} {{product['Category'] | uncapitaliseFirstLetter:product}} - Next Step: H2B Remortgage
- New Build House
- New Build Flat
- Help to Buy ISA Mortgage
- {{product['Max LTV']}}% LTV ({{product['New Code']}})
Interest rate
{{product['Interest Rate 1']}}variable (BoE Base rate + {{product['Rate 1 BOE loading']}})
variable (YBS Standard Variable Rate {{product['Rate 1 BOE loading']}})
fixed
until {{product['Rate 1 End Date']}}.
Estimated monthly payment
{{product['estimatedMonthlyPayment'] | currency:'£': 0}}
on an interest only repayment basis
Estimated total cost for the first year
{{product['trueCostPerYear'] | currency:'£': 0}}
Additional features
- Free valuation
- Free legals
- {{product['Cashback'] | currency:'£': 0}} cashback
Early Repayment Charges apply and other fees and charges may apply.
Applying for a fixed rate mortgage
1
Check how much you could potentially borrow.
Before beginning an application, it’s important to check how much you could borrow for a mortgage and what the cost could be. We have a borrowing calculator and a repayment calculator to help you decide.
Takes approximately 2 minutes to complete
2
Obtain a lending decision (or ‘Approval in Principle’).
Our online Approval in Principle application takes just 10 minutes to complete, after which we’ll be able to tell you whether or not we would be able to lend to you and how much we would be able to lend.
Takes approximately 10 minutes to complete
3
Complete a full mortgage application.
If you’ve acquired a successful lending decision and found a new property then you’re ready for the full mortgage application. You can complete a mortgage application online or if you’d like some advice, you can speak to a mortgage advisor in branch or talk to us by phone .
Takes approximately 15 minutes to complete
What are fixed rate mortgages?
A fixed rate mortgage means that your interest rate and the amount you pay for your mortgage each month remain the same over the fixed rate period. This is usually 2, 3 or 5 years – although mortgage providers have different fixed rate periods. Fixed rate mortgages are different to variable rate mortgages where the interest rate can vary throughout the mortgage term, meaning that your mortgage payments will also change.
What happens when my fixed rate period ends?
When the fixed rate of a fixed rate mortgage ends you will revert to our Standard Variable Rate unless you choose to switch to a new mortgage deal. You’ll get the opportunity before your fixed rate mortgage deal ends, to explore the other mortgage deals we have to offer at the time and to select the right one for you.
What are the benefits of a fixed rate mortgage?
Below are a few points to be aware of including how to work out if a fixed rate mortgage could be benefit you:
- The interest rate on your mortgage won’t change over a set period of time, regardless of what is happening to interest rates elsewhere.
- Because of this you may find it easier to budget for your monthly mortgage payments
- However, you will miss out on any drop in your monthly payment should interest rates elsewhere decrease during the fixed rate period.
- We offer a range of fixed rate mortgages for 2, 3, 5 & 10 year periods*, after which time the interest rate reverts to our Standard Variable Rate at the time.
- You have the right to repay the loan either partially or in full during the term of the loan.
- Early Repayment Charges apply during the fixed rate period. Other fees and charges also apply.
*The fixed terms we offer can vary from time to time depending on which products are on sale.
Is it suitable for me?
When you are considering the type of mortgage you need (particularly between fixed rate and variable or tracker mortgages) you need to ask yourself some important questions like, how long are you planning to live in a particular property, how much you have to put towards a mortgage payment each month and whether you could cope with a rise in interest rates (with a variable rate or tracker mortgage).
If you prefer the security of having a fixed interest rate for a set period of time and therefore the security of a static monthly mortgage payment*, then you might find that a fixed rate mortgages provides you with better peace of mind. However this does mean that you could miss out on reducing your payments should rates go down.
Alternatives to fixed rate mortgages
Offset
Use your savings to offset against the balance of your mortgage and reduce the interest you pay.
Tracker
Mortgages that follow the Bank of England Base Rate - you could save money while the Base Rate remains low but your payments could also go up.
Interest only mortgages
Make monthly payments to cover the interest you owe. In order to pay off the loan amount at the end of the term, you will need to have an acceptable repayment strategy.
Before you apply
Why not try our mortgage calculators to get an idea of how much you could borrow for your mortgage and what the repayments would be.
Need some help?
Call us
Speak to one of our friendly mortgage advisers about your options
0345 166 9510*