Yorkshire Building Society has further reduced rates across its range, and introduced a new 5-year fixed rate at 4.92%, marking its second sub-5% deal this month.
Earlier in September, the Yorkshire became the first building society to launch a sub-5% product in several months.
Today, the lender shaved up to 0.23% off products across its range.
It applied the largest reductions at higher loan-to-values (LTVs), for borrowers with deposits of 5% benefitting the most.
Highlights of the new range include a 5-year fixed rate mortgage at 4.92% with a £1,495 fee, for both house purchase with free standard valuation, and remortgage, with free valuation and remortgage legal services, at 75% LTV.
The lender also introduced a 2-year fixed rate at 5.64% with a £495 fee, for house purchase with free standard valuation and £250 cashback, also at 75% LTV, as well as a 5-year fixed rate at 5.14%, with £1,495 fee and free standard valuation for house purchase, at 85% LTV.
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.”
