Clydesdale and Yorkshire Banks have seen a significant rise in the number of mortgage applications it has received recently.
Following the success of its fee free mortgage campaign launched in early January, the banks have seen mortgage applications rise by 40% in the first five weeks of 2009.
Introduced for new customers looking to re-mortgage, the popularity of the fee free mortgage offer has seen it extended until 28 February 2009.
While the applications will still be subject to Clydesdale and Yorkshire Banks’ disciplined credit and approval criteria, the fee free offer waives arrangement fees for new customers to re-mortgage on a range of its fixed rate, offset and flexible payment mortgages.
Steve Reid, Retail Director for Clydesdale and Yorkshire Banks, said: "The success of our latest fee free mortgage campaign underlines our commitment to providing innovative and competitive products which support our customers.
"At a time when borrowers need the reassurance of competitive mortgages and excellent service, we are more focused than ever on ensuring that we continue to deliver value for money products and the high level of service that our customers have grown to expect.”
The fee free mortgage offer could mean a saving of up to £999 which is the current re-mortgage arrangement fee for some products. See table below.
In addition, customers re-mortgaging from another lender won’t have to pay any legal or valuation fees providing their mortgage is over £30,000 and they use the Banks’ appointed solicitors.
Mr Reid added: “Whilst this promotion is aimed at people looking to re-mortgage, we also have a highly competitive range of products available to those looking to move house and to first time buyers.”
|Total Cost of
|2 Year Residential Fixed < 75%||4.49%||£599||£0||£0||£0||£0|
|2 Year Residential Fixed > 75%||5.99%||£599||£0||£0||£0||£0|
|5 Year Residential Fixed < 75%||4.99%||£599||£0||£0||£0||£0|
|5 Year Residential Fixed > 75%||6.49%||£599||£0||£0||£0||£0|
|Flexible Payment Mortgage||4.74%||£999||£0||£0||£0||£0|
|2 year Fixed < 60% (January exclusive)*||3.99%||£1,999||£1,999||£0||£0||£1,999|