Yorkshire BS launches loyalty cashback mortgage range

Yorkshire Building Society has launched a new loyalty cashback mortgage range.

Available to savers who have been members of the Society for at least 12 months, the new range offers an additional £250 in cashback when the customer takes out a qualifying loyalty cashback mortgage. This is in addition to any other cashback which comes with the product they choose.

The only restriction, aside from 12 months of Society membership, is that they live in the UK and must not have a current mortgage with the Society.

Yorkshire Building Society has also extended the offering to include family and friends, so savers who qualify but don’t need a mortgage themselves can pass on the benefit to someone who does, using a single-use loyalty code.

Ben Merritt, director of mortgages at Yorkshire Building Society, said: “This is another example of how we’re rewarding our savers and, as a mutual organisation, encouraging member loyalty - something which is very precious to us.

“This new range really demonstrates the suite of benefits members have access to when they join the YBS family, and to help more people reach such benefits, we’re also providing our existing members with the ability to pass it on.

“We’ve made this decision because we recognise that many of our savers may not need a new mortgage right now, but there’s a very good chance they’ll know someone who does – whether that’s a younger family member looking to get onto or move up the property ladder, or a friend looking to remortgage.

“We hope the extra cashback provided by the new range will be welcome – especially in the current climate where every penny counts.”