Yorkshire Building Society has cut interest rates across the board on its mortgage range.
The changes include discounts of up to 0.50% on five-year fixed-rate mortgages for borrowers who buy a home with just a 5% deposit, with specific rates reduced by up to 0.29% for those remortgaging.
Two-year interest rates on products up to 90% loan-to-value (LTV) have also been reduced by up to 0.21%, with five-year interest rates at 75% loan-to-value (LTV) reduced by up to 0.24%.
For borrowers who remortgage with a 40% deposit, five-year interest rates also fall by 0.25%.
The discounts include the loyalty cashback range, which offers an additional £250 cashback to members who have had a savings account with the subscriber for at least 12 months.
These members can also refer friends or family, allowing them to access the same offer.
Highlights of the new range include a five-year lock-in of up to 95% of the LTV for those purchasing a property, down from 6.29% to 5.79%.
This comes with a £1,495 product fee and a standard rating (there’s also a £250 loyalty cashback option if applicable).
In addition, the lender has reduced the five-year Best Buy (according to Moneyfacts) up to 75% LTV for those purchasing a property from 5.07% to 4.97%.
This comes with a £1,495 product fee and a standard rating (there’s also a £250 loyalty cashback option if applicable).
The no-fee Best Buy (according to Moneyfacts) is fixed for two years at up to 80% of the LTV for those purchasing a property, which has been reduced from 5.44% to 5.34%.
This comes with the standard valuation (there is also a £250 loyalty cashback option available if applicable).
Tom Simpson, managing director of homes at Yorkshire Building Society, says: “This range update is part of our continued focus on helping more people achieve home ownership. With a range of the best products money can buy, we continue to offer competitive value and choice to borrowers.”
