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The Yorkshire Bank "aussie" mortgage - otherwise called the flexible payment mortgage - offers the opportunity to pay off whatever extra amount you can at any time. The repayment is credited directly to your mortgage account and you stop paying interest on the amount repaid from that point. ... Read review
Advantages: Very flexible repayment Disadvantages: not the lowest interest rate
...so.
The Yorkshire Bank "aussie" mortgage - otherwise called the flexible payment mortgage - offers the opportunity to pay off whatever extra amount you can at any time. The repayment is credited directly to your mortgage account and you stop paying interest on the amount repaid from that point. It is only a standard high street variable rate but the other features can make it a real money saver.
The current headline makers are the lenders offering the lowest interest rates. This is no bad thing - it lowers the initial monthly repayment. However, if you can honestly afford to pay more off your mortgage then most advisers agree you should do so.
The Yorkshire Bank "aussie" mortgage - otherwise called the flexible payment mortgage - offers the opportunity to pay off whatever extra amount you can at any time. The repayment is credited directly to your mortgage account and you stop paying interest on the amount repaid from that point. It is only a standard high street variable rate but the other features can make it a real money saver.
If required, you can opt for a step up in payments each year, reviewable on each anniversary. Using the bank's own offered step up can knock 7-8 years off a 25 year mortgage. I,ve just remortgaged to this product and expect to save £20,000 in interest over the life of my loan (£60,000 borrowed)
Advantages: Sympathetic Branch Disadvantages: Terrible Customer Service
...had been paid to my Yorkshire Bank current account. I informed her that I do not have a current account with Yorkshire Bank. After some searching she discovered that they'd paid it into my fathers business account which has nothing to do with me whatsoever. 10 weeks after my initial complaint they have today written to me offering me 200 pounds compensation. I would not reccomend their services.. ...
Porpy 06.03.2007
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Ciao members have rated this review on average: somewhat helpful Review of Yorkshire Bank Mortgages
Promptness of service
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Advantages: Very accomodating if you want a loan or an overdraft. Disadvantages: Unfortunatly not quite so sympathetic if you're trying to claw your way back out of debt.
hounded me and it was made perfectly clear that there would be no business account for this cookie. And yet I've never missed a payment, and kept my other account in credit the whole time it took me to pay off the liability.
Now of course they want my custom back. They are offering me loans, would I like to transfer my mortgage? They could, apparently, do me a very cushy deal.
But no, as much as I'd like to take advantage of the daily interest set-up of a YorkshireBankmortgage, I'm afraid it's not to be.
The fair weather friends at the Yorkshire are out for themselves in the most transparent and irresponsible manner I've come accross in a Banking institution, and my business, account in credit and all, is gone South. ...
Rob_Davies 12.01.2001
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Ciao members have rated this review on average: helpful Review of Yorkshire Bank
Advantages: A high standard of customer service if you do need to contact the bank Disadvantages: As I use the internet banking I would like to see a paperless statement
excellent.
THE BANK ITSELF
I live close to the city of Lancaster and there is one branch of the YorkshireBank there. It does sometimes get busy but when it does extra cashiers are brought out and I have never queued more than five minutes. The staff have always been very pleasant and helpful.
Setting up the account was relatively quick and easy and was a very personal service.
YorkshireBank offers all the normal facilities - overdarft, mortgages, insurances, ISAs, loans and credit cards but as I have not used any of these facilities I am not in a position to talk about them.
In the time I have been with the bank I have had no problems with fees etc; after a holiday in Spain in October when there was a mix up with my money, I found my account had gone overdrawn when I got home, I telephoned the bank and explained ...
Advantages: Seem Good At The Time Disadvantages: Beware Small Print And New Deals
. In 1997 we moved house, taking with us the profit from the sale of the old house to put on the new property. As the Halifax was due to announce giving shares to its customers, it was in our best interest to stay with them and also not to have a break in the mortgage. That way we also qualified for Halifax shares. I think it amounted to something like £1,500, not to be sniffed at. Anyway, by now we were a bit nervous of endowments, but as the one we had was doing ok, (it covered £13.750 of the mortgage and only cost £18 per month) we decided to transfer that to the new mortgage and borrow the balance on a repayment mortgage. We also qualified for £1,500 cash back when the mortgage was finalised and we moved into the new house, again very handy. Deal done and everyone is happy.
In 1999, the YorkshireBank offered to give me a mortgage ...
