(21 January 2010 – UK) Yorkshire Bank and Clydesdale bank, NAB’s UK banking subsidiaries, are offering free home insurance to customers in an effort to increase their competitive presence in the United Kingdom.The offer, available to customers who sign up for a new mortgage or refinance their mortgage with the bank, allows them to choose either £1000 (A$1778) worth of free building and contents insurance or have £500 reduced from their arrangement fees.
The two mortgage lenders have also added the incentive of reducing the rates of a variety of mortgage products, including the 75 percent loan-to-value two year fixed mortgage rate, which has dropped 30 basis points from 4.49 percent to 4.19 percent.
Yorkshire Bank’s head of retail, Gary Lumby, said the new offers were an example of the bank’s commitment to competition in the sector.
The banks’ offers expire on the 28th February this year.