Yorkshire Building Society has announced it is reducing rates on the majority of its products, including those at 90% LTV, by five basis points.
This move is intended to help borrowers with smaller deposits who are struggling amidst rising living costs.
The rate reduction marks the fourth time during 2023 that the lender has reduced its mortgage product costs to offer more assistance to borrowers.
The new product range, available from midnight tonight, includes a 5-year fixed-rate mortgage aimed at first-time buyers offering up to 90% LTV at 4.82% (previously 4.87%), with no fee, £1,000 cashback, and free standard valuation.
Also, a 2-year fixed-rate deal for house purchases is available at 5.02% (previously 5.07%) up to 90% LTV, with a product fee of £1,495 and free standard valuation.
Lastly, a 2-year fixed-rate for remortgage purposes is also offered at 5.02% (previously 5.07%) up to 90% LTV, with a £1,495 fee and free remortgage legal service, as well as standard valuation.
Ben Merritt, director of mortgages, said: “This reprice represents our latest attempt to pass on added value to our customers and offers some attractive options, particularly for borrowers who have smaller deposits to put down.”
