"The new range provides options for a wide range of borrower needs, and we’re particularly pleased to have broken the 5% interest rate barrier once again"
Yorkshire Building Society has further reduced mortgage rates across its range and introduced a new five-year fixed rate at 4.92%, marking its second sub-5% deal this month.
The lender has reduced rates by up to 0.23% and has applied the greatest reductions at higher LTVs.
A new five-year fixed rate has launched at 4.92% up to 75% LTV with a £1,495 fee, available for both purchase and remortgage with a free valuation.
A two-year fix at 75% LTV has launched at 5.64% with a £495 fee, available for purchase with free standard valuation and £250 cashback.
Five-year fixed rates have reduced to 5.14% at 85% LTV with a £1,495 fee and to 5.63% at 95% LTV with a £995 fee and £250 cashback.
Ben Merritt, director of mortgages at Yorkshire Building Society, said: “We’re delighted to have been able, once again, to react quickly to more favourable market rates following the Bank of England’s decision to hold its Base Rate. This is our latest move to help borrowers who are continuing to struggle in a higher cost environment and we will continue to monitor the market closely for further opportunities.
“The new range provides options for a wide range of borrower needs, and we’re particularly pleased to have broken the 5% interest rate barrier once again, a trend we very much hope to be able to maintain over the coming weeks, depending on how the volatility which still prevails within the economy and markets, plays out.”
