In This Article
About Yorkshire Building Society?
Yorkshire Building Society is one of the UK’s leading financial services providers, with over 150 years of experience in the industry. Based in Yorkshire, with its headquarters in Bradford, they offer a wide range of financial services through a network of over 200 branches and agencies across England and the Isle of Man.
The building Society has a strong commitment to providing excellent customer service and is committed to helping all of its members achieve their financial goals.
The building society has a wide range of products and services including savings accounts, mortgages, insurance, and investment products.
For mortgages, Yorkshire Building society recognised the importance for their customers to work with independent mortgage advisors and created an intermediary-focused arm of the society called Accord Mortgages.
Accord Mortgages
Accord Mortgages doesn’t offer direct mortgages to potential customers, you’ll need to go through an Accord mortgage advisor to apply for one of their products.
The lender offers a variety of products to meet the needs of brokers and their clients, including flexible underwriting on their residential mortgages, such as first-time buyer, offset mortgages, complex cases, new build, and lending in Scotland.
In addition to the residential mortgage products Accord offers, they also offer buy to let mortgages, these loans include higher loan to value lending and help first-time landlords, portfolio landlords, and landlords looking to let their existing residential property and buy a new home.
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What mortgages do Yorkshire Building Society specialise in?
The Yorkshire Building Society offers a wide range of mortgage products to suit your needs and circumstances. Whether you’re a first-time buyer, looking to move home, or wanting to remortgage to a better deal, they may have a mortgage that could be right for you.
The building society offers fixed rates, tracker rates and offset mortgages for a range of scenarios such as:
- Interest-only mortgages
- First time buyer mortgages
- High loan to value mortgages
- New build mortgages
- Commercial mortgages
How competitive are Yorkshire Building Society mortgage rates?
Yorkshire Building Society aims to be competitive for the mortgages they offer. However, it’s important to compare all interest rates available to you before deciding to proceed with them.
You should not just consider the initial interest rate, but also factor in the fees associated, the ability to overpay on the mortgage, the portability, and the ability to get further borrowing from them if needed.
An independent expert mortgage advisor will be able to review your situation, compare all lenders in the market and recommend the most suitable lender for you based on your situation.
Can I remortgage with Yorkshire Building Society if I am already a customer?
If you are already a customer of Yorkshire Building Society, you may be able to switch your current deal.
They may have sent you a reminder that your current deal is due to end, if so, you are able to check on their website what other rates are available to you. However, the rate offered may not be the best for you.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with Yorkshire Building Society.
If you would like to stay with Yorkshire Building Society and switch your rate a mortgage advisor could do this for you saving you time and hassle.
How quick are Yorkshire Building Society to produce a mortgage offer?
Yorkshire Building Society on average take around four weeks to produce a mortgage offer from application. The time to offer may be extended for more complicated deals.
Working with a mortgage advisor can speed up the time to offer as the broker will know how the lender works and how best to present the application. They will also chase the lender should they be dragging their heels.
Declined a mortgage by Yorkshire Building Society?
If you’ve been declined a mortgage from Yorkshire Building Society, you should find out why and then speak to a mortgage advisor.
There are specialist lenders that are more willing to lend depending on your scenario, this could range from adverse credit or non-standard property construction.
To review your credit profile, you can use Check My File, which is the UK’s most detailed online credit report which also offers a free trial.
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Conclusion
Yorkshire Building Society is a leading financial services provider in the UK with over 150 years of experience.
They offer a wide range of products and services, including savings accounts, mortgages, insurance, and investment products. For mortgages, they have an intermediary-focused arm of the society called Accord Mortgages.
Accord Mortgages offers a variety of products, including flexible underwriting on their residential mortgages, buy to let mortgages, and higher loan to value lending.
Both Yorkshire Building Society and Accord Mortgages aim to be competitive for the mortgages they offer. However, it’s important to compare all interest rates available to you before deciding to proceed with them.
If you are already a customer of Yorkshire Building Society, you may be able to switch your current deal and an independent mortgage advisor can advise you on all products available in the market and find the best option for you.
Please complete the contact box below, and I NEED ADVICE will match you with a mortgage advisor that is experienced in your situation and can recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
