Yorkshire Building Society has made significant rate reductions across its mortgage range as of early 2024, including a notable 5-year fixed rate at 3.99%.
This reduction responds to the recent downward trend in mortgage market rates, enabling the Society to offer better value to borrowers during these challenging times.
The new mortgage range features a 5-year fixed rate deal at 3.99% up to 75% loan-to-value (LTV), suitable for house purchasers and remortgagers, which comes with a £1,495 fee and includes a free standard valuation.
Additionally, a 2-year fixed rate at 4.49% with the same LTV, fees, and valuation offer is available.
For those seeking higher LTV options, a 2-year fixed rate at 5.14% up to 80% LTV comes with no fee and free valuation, and a 5-year fixed rate at 4.79% up to 90% LTV for house purchasers includes £2,000 cashback and a free valuation. Remortgage deals come with the added benefit of free legal services.
Aidan Smith, mortgage product manager, commented on the rate changes: “The markets have responded very positively to the surprise fall in inflation announced by the Office for National Statistics before Christmas and, as a result, we’ve seen significant falls in market interest rates since then.
“We’re delighted to be seizing the opportunity this presents to continue passing on as much value as possible to borrowers, including, excitingly, a sub-4% product.
“Borrowers can rest assured we’ll continue to monitor market developments closely with a view to helping people navigate a path through this unusual interest rate environment and achieve their homeownership aspirations in a manageable way.”
