Media Release                                        Wednesday, 29 January 2020

Beverley Building Society re-enters fixed rate mortgage market

Beverley Building Society is today launching a fixed rate mortgage, in a bid to help borrowers needing control over their monthly mortgage payments, such as first-time buyers and so-called ‘trapped borrowers'.

Product details at a glance

2-year Fixed Rate Mortgage

• Rate 2.99% up to 80% LTV, or 3.19% up to 95% LTV
• Fixed for two years from completion, then reverting to our SVR, currently 4.99%
• Up to 95% loan-to-value for purchases and 90% for remortgages
• £995 completion fee
• Free legal fees and valuation for remortgages.

Head of Lending Graham Carter said: "In November, we announced our plans to help trapped borrowers move on from excessively expensive deals with other providers, by implementing the Financial Conduct Authority's new rules around affordability assessments for people able to demonstrate a positive payment track record.

"For them, first time buyers or anyone also needing to carefully manage their budgets, we hope this new product will offer a valuable new option.

"This is just the latest example of how we are seeking to remain true to our founding purpose, of enabling as many people as possible - and particularly those with complex circumstances - to own their own homes."

For more information or to arrange interviews, contact Tracy Fletcher viatracy.fletcher@beverleybs.co.ukor 07983 633385.

About Beverley Building Society

• Beverley is the only independent building society in East Yorkshire. We have been supporting our community since 1866 and are committed to contributing to the vibrancy of our region by making a difference
•  As a true independent, we are committed to living mutuality by building better futures for our members, new and existing borrowers and savers, our people, our community and our sector at large
• We're powered by highly committed colleagues who go over and above, every day, to offer our customers quality, friendly, personal service
• In an age where the financial services market is moving, at pace, towards AI-powered, automated solutions, we believe there is a place for people-centred financial services and are passionate about maintaining that personal touch
• We aim to make enough profit to ensure the Society is financially strong and sustainable, and can invest in continual product and service improvements for our members. We do not pay staff bonuses and all our profits are re-invested to support this goal.