The mortgage is available for those with a deposit of 35% or greater and comes with a £1,345 product fee. It is available for house purchase and remortgage.
Brendan Gilligan, Mortgage Manager for Yorkshire Building Society, said:
“It’s a very competitive mortgage market at the moment, which is good news for anyone looking to remortgage or buy a property, as they could benefit from some very competitive rates.
“As a mutual which exists for the benefit of its members, we try to ensure these savings are passed on through competitive rates wherever possible. This market-leading rate is available to borrowers with a 65% loan-to-value and hope it will prove popular with borrowers.”
Rachel Springall, Financial Expert from Moneyfacts, added:
“This latest market-leading fixed rate mortgage from Yorkshire Building Society is likely to prove popular with borrowers looking for a short-term deal with a trusted brand. The deal also allows borrowers to overpay their mortgage which will be great news for those who want to reduce their loan more quickly.
“Overpaying a mortgage while on a low rate is a smart move as borrowers can build up more equity and it can enable customers to borrow less in the future if they wish to re-finance. The average two-year fixed deal at 95% loan-to-value is currently 4.18%, much higher than if customers had just 5% more equity with the average rate at 90% loan-to-value sitting at 2.99%."
