Yorkshire BS cuts residential rates by up to 0.27%

Yorkshire Building Society is reducing rates across its residential purchase and remortgage ranges.

There are discounts of up to 0.27% at 60% and 90% LTV, as well as reductions of up to 0.18% across the rest of the range, including on deals up to 95% LTV.

Highlights include a 75% LTV two-year fixed rate remortgage product, down to 4.66% with a £495 fee, £250 cashback, free standard valuation and remortgage legal service. The Society says the reduction makes this product a 'Best Buy', the lowest currently available on the market. 

Other remortgage highlights include a two-year fix at 75% LTV, down to 4.44% with a £1,495 fee, and a two-year fix at 4.75% up to 85% LTV, also with a £1,495 fee. 

Additionally, a two-year fixed rate purchase product at 90% LTV has reduced by 27bps to 5.07%, which comes with a £1,495 fee and free standard valuation.

The lender has also reduced the interest rate on its £5k Deposit Mortgage, launched earlier this year and available only to first-time buyers. This is designed to enable them to purchase a property valued up to £500,000 with just a £5,000 deposit. The product is now available at a rate of 5.74%, down from 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.”