This can be a nice ending for most personal letters.
Another ending could be "warm regards". The difference here is that "warm" implies more "affection" for the person.
I personally don't like ending letters with "sincerely", "sincerely yours" or "yours truly", especially with respect to business letters. Many such letters are shown to end this way but as a businessman myself I felt uncomfortable ending a business letter with a declaration of love/affection.
For business letters I usually end them using "Best regards". This means giving them your best thoughts which is more appropriate. You could also just end a business letter with "Regards"