"It is encouraging that Yorkshire Building Society has continued a focus into the New Year on assisting first-time buyers finding that first rung of the property ladder."
Two of the products - a 95% LTV two-year fix at 2.77% and a 90% LTV five-year fix at 2.33% - are currently the lowest available on the market according to Moneyfacts data.
Other reductions include a two-year fixed rate at 90% LTV which is now available at 2.10%.
All products come with a £250 product fee, free standard valuation and £500 cashback.
Additionally, the Society has launched a new range of 80% LTV products for purchase and remortgage.
Two-year products start at 1.55% with a £1,495 product fee or 1.95% fee-free, while five-year fixed rates are available at 1.82% with a £1,495 fee or 2.15% with no fee.
For home movers, new 80% LTV products include a two-year fixed rate at 1.66% and a five-year fix at 1.86%, both with a £495 fee and free standard valuation.
Ben Reed, product manager at Yorkshire Building Society, said: “We’re committed to helping first-time buyers and those with smaller deposits, get on or move up the property ladder.
“We hope that by offering a range of options, including some of the best buy products currently available on the market, cashback incentives and low-rate longer-term products, we’re able to meet a variety of borrowers’ needs.
“In what is a limited market we’re also pleased to be able to extend our range of mortgages at 80% LTV to give customers more options.
“We’ve introduced competitive two and five-year fixed rates with a variety of set-up options to offer choice of mortgages that best meet our customer’s needs, be that with or without upfront fees or incentives depending on their circumstances.”
Darren Cook, finance expert at Moneyfacts, added: “During 2019, it seems first-time buyers may have been the biggest beneficiaries from healthy competition amongst lenders and falling rates on fixed rate deals.
“It is encouraging that Yorkshire Building Society has continued a focus into the New Year on assisting first-time buyers finding that first rung of the property ladder.
“This latest release of first-time buyer products from Yorkshire Building Society appears to have competitive interest rates, incentives of low products fees and a cashback which may help with the a budget when moving into a first home.”
