YBS has reduced rates by as much as 0.27 percentage points on some deals.
The new range includes the lender’s ‘Best Buy’ two-year fix up to 75% loan-to-value (LTV) at 4.66% (reduced from 4.84%) for those remortgaging, with a £495 fee, £250 cashback, free standard valuation and remortgage legal service.
Another highlight is the two-year fix up to 90% of the property’s value at 5.07% (was 5.34%) for those purchasing a home, which comes with a £1,495 fee and free standard valuation.
A lower rate is available to those who can pay a higher fee, with the two-year fix at 4.44% (was 4.62%), for those remortgaging up to 75% LTV, with a £1,495 fee and free standard valuation.
First-time buyer help
The lender has also cut the interest rate on its £5K Deposit Mortgage, launched earlier this year and available only to first-time buyers.
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The product is designed to help them to purchase a property valued up to £500,000 with just a £5,000 deposit, and is now available at a rate of 5.74% (was 5.79%) for a five-year fix.
Cheryl Bleasdale, mortgage product manager for Yorkshire Building Society, said: “We’re delighted to announce that we’ve taking the opportunity presented by falling market rates to refresh the range, ensuring the best possible value for borrowers.
“We’re particularly pleased to include competitively priced packages for those with a smaller deposit, which will benefit first-time buyers looking to step onto the property ladder. As a mutual building society established to help people to find a place to call home, we’re committed to doing everything we can to support them.”
Rachel Springall, finance expert at Moneyfacts, added: “It’s great to see Yorkshire Building Society reduce mortgage rates for different fixed terms, which include deals available to remortgage customers and first-time buyers with smaller deposits. There will no doubt be borrowers out there looking to refinance as the year hurdles to a close, and any deals that carry incentives could help them save on the upfront cost.”
