Yorkshire Bank, founded in 1859 in West Yorkshire, has been a trading name of Clydesdale Bank plc since 1990. The bank has 182 branches across the UK and 44 Financial Solutions Centres and prides itself on its strong commitment to customer service and personalised financial solutions. Most of the bank’s branches are based in the North of England, primarily in Yorkshire.
Yorkshire bank mortgages plenty of different mortgage options for existing customers and newcomers to the bank who are looking to buy their own home. The bank has a range of options for first time buyers who are starting out on the property ladder.
Yorkshire Bank mortgages received the Moneyfacts award for “Best First Time Buyer Mortgage Provider” for its exclusive first-time buyer offers. Customers who are new to mortgaging can get a deal from Yorkshire Bank mortgages with a low 5% deposit, and receive £250 cashback if their mortgage application is successful. These mortgages also come with no arrangement fees to give customers a little extra to spend on their move.
Buyers moving into their second home can also access a range of exclusive mortgage offers from Yorkshire Bank mortgages, including Fee Saver mortgages that eliminate arrangement fees.
Fixed rate mortgages are available in two or five-year timeframes and with or without fees, but Yorkshire Bank mortgages do not currently offer tracker mortgages. The bank does have Offset mortgages and Offset Variable Rate mortgages that allow customers to use their savings account to bring down their repayments.
Customers can apply for a mortgage from Yorkshire Bank on the phone or by appointment at their local branch. The bank’s website also has a Live Chat feature where customers can speak to advisers at any time to ask questions or receive information about the mortgages on offer. They can also make an enquiry through an online form and request a phone call or appointment.
Yorkshire bank mortgages offer a host of variable rate and fixed rate mortgages which may be suitable to you based on your financial needs and current situation.
With a dedicated sales team and award-winning lending service, Yorkshire bank mortgages prides itself on fast response time, competitive rates and high-quality customer service.
What types of mortgages can I get with Yorkshire Bank Mortgages?
- Fixed rate mortgages: With these mortgages, the rates are fixed for a period of 2, 3 or 5 years and provides you certainty over your Yorkshire Bank mortgage for that time frame.
- Variable rate mortgages: You can access a host of variable mortgages through Yorkshire Bank mortgages and this mortgages will have a variable rate which can be increased or decreased at any time by Yorkshire Bank mortgages.
- Tracker mortgages: You can not access a host of tracker mortgages from Yorkshire Bank mortgages. These mortgages will usually track the bank of England’s rate and will move in line with it although it may not be the exact rate but rather a rate which will increase by the same point or increase by the same point as the bank of England rate.
- Remortgages: You can access a host of remortgages on any of Yorkshire Bank mortgages products.
- Buy to let mortgages: Yorkshire Bank mortgages also offer a host of buy to let mortgages for buy to let investors.
- You may be able to access mortgages on Yorkshire Bank mortgages with up to 95% Loan to value (LTV).
Yorkshire Bank mortgages may also allow you to make overpayments on your mortgage but there may be a fee for doing so and a limit on how much you can overpay your mortgage each year.
You can use the Yorkshire Bank mortgages affordability calculator [here.](https://online.Yorkshire Bankmortgages.com/public/mortgages/quick_enquiry.do)
Yorkshire Bank mortgages are known for:
Accessing almost 90% of cases received within 2 days
Providing a decision in principle usually within the hour
Providing a mortgage offer within 11 days.
Yorkshire Bank Mortgages lending criteria
The lending criteria for Yorkshire Bank mortgages are the below but they can change at any time and hence why mortgage brokers are very important as they will likely be in tune with any changes to Yorkshire Bank mortgages lending criteria.
- Yorkshire Bank mortgages don’t have a minimum income level for residential mortgage applicants but they will not accept people on temporary or zero-hour contracts.
- For a buy-to-let mortgage, you must have at least £25,000 in income.
- If you will still be paying off your mortgage at 75 years of age then Yorkshire Bank mortgages ( Yorkshire Bank intermediaries) will likely not lend to you.
- For leasehold properties Yorkshire Bank mortgages (Yorkshire Bank intermediaries) will accept properties with a minimum 85years on the lease and a maximum ground rent of £1,000.
Existing mortgage customers can contact 0800 121 4203.
New customers can call 0800 023 2201.
If you are considering getting a mortgage then using a mortgage broker may be a good choice as mortgage brokers usually have access to many more products than any specific mortgage lender.
Mortgage brokers will also usually have access to specific deals from mortgage lenders as well as experience on which mortgage lenders will be more likely to accept your case. This will help you avoid getting rejected on a mortgage application and having to build credit due to the damage a rejection might do to your credit score.
If you have bad credit or are self-employed then specialist mortgage brokers such as bad credit mortgage brokers or self-employed mortgage brokers may be useful.
You may also want to consider the government schemes which are available for first-time buyers and home movers such as:
- Lifetime ISA- gives you a government bonus of £1,000 if you save the maximum £4,000 a year.
- Help to buy ISA- gives a maximum bonus us £3,000 if you save the maximum allowed of £12,000
- Help to buy equity loan- gives you up to 40% as a 5-year interest-free equity loan. You begin to pay interest at 1.75 % after the fifth year and 1% plus RPI for every year thereafter.
- Shared ownership- You can buy between 25% to 75% of the property initially with a shared ownership mortgage and then buy more using a staircasing mortgage.
- Armed forces help to buy- similar to the help to buy equity loan but specific for the armed forces personnel giving them an increased chance of acceptance.
- Rent to own- This is the right to buy scheme on which this guide is currently discussing. A different marketing name is just used. Watch out for this when shopping to avoid missing out on eligible properties due to confusion.
- Right to buy- allows you to buy your home at a discount price.
- Preserved right to buy– same as above.
- Right to acquire- same as above.
Disclaimer: The offers compared on this page are chosen from a range of products Huuti has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms “Best”, “Top”, “Cheap” including variations, are not product ratings and are Huuti is not recommending anything here. You should consider seeking independent financial advice when necessary and confirm the validity of the information above for your personal circumstances. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR MONTHLY REPAYMENTS
If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.
You can also contact the debt charity “Step Change” if you are in debt and need help.