Yorkshire Building Society has taken advantage of falling market rates to reduce selected mortgage rates, with some of the biggest reductions aimed at borrowers with smaller deposits. The changes, which take effect today, include reductions of up to 0.12% on products up to 90% loan-to-value and cuts of up to 0.97% on some products at 95% loan-to-value.
Highlights of the new range include a 2-year fixed rate mortgage at 75% loan-to-value for remortgages at 4.27%, down from 4.39%, with a £995 fee, free standard valuation and remortgage legal services. A 2-year fixed rate at 75% loan-to-value for house purchases is now 4.44%, down from 4.56%, with a £495 fee and free standard valuation. A 5-year fixed rate at 80% loan-to-value for house purchases has been reduced to 4.30%, down from 4.42%, with a £995 fee and free standard valuation.
Cheryl Bleasdale, product manager at Yorkshire Building Society, said: “We’re delighted to be able to cut our rates again so soon after our last decrease.
“Market rates have provided us with this golden opportunity over the past week and we will continue to watch developments closely and act where we can to help our borrowers save money.”
Rachel Springall, finance expert at Moneyfacts, said: “It’s fantastic to see Yorkshire Building Society make more cuts to fixed rates within its mortgage range. There are millions of borrowers due to refinance this year, so it’s positive to see borrowers see cuts, particularly on deals which also carry cost-saving incentives.”
