Fixed rates offer peace of mind your monthly repayments won’t change. Tracker rates are variable, so move up and down in line with the Bank of England base rate. Offset mortgages allow you to use your savings to reduce the cost of your mortgage. You’ll need a deposit of at least 5% to put down to be eligible for a mortgage with YBS but the best deals are offered to those with much bigger deposits.
What is Yorkshire Building Society?
Yorkshire Building Society first opened its doors back in 1864, and is now the second biggest building society in the UK.
It got its current name following the merger of the Huddersfield & Bradford and West Yorkshire Building Societies in 1982.
Since then the mortgage lender, which also offers savings and insurance, has grown at a rate of knots. In April 2010, the Yorkshire merged with Chelsea Building Society, in October 2011 it acquired Egg’s mortgage and savings book. The following month, it merged with Norwich & Peterborough Building Society.
As the second largest building society in the UK, the Yorkshire Building Society now has around 3.5m members – and assets of around £36 billion.