Yorkshire Building Society is reducing first time buyer mortgage rates by up to 0.30%.
Borrowers with a 5% deposit can now get a five-year fixed term mortgage at 4.89% (reduced from 5.19%) with £250 cashback on completion and free standard valuation.
First time buyers looking for a shorter fixed rate period can apply for a two-year fixed rate mortgage at 4.39% (reduced from 4.49%) with £250 cashback on completion and free standard valuation.
There is also a two-year fixed rate mortgage at 3.99% (reduced from 4.09%) with a £1,545 product fee for those with a 5% deposit.
The reductions are part of a wide range of changes to the society’s mortgage range with highlights for borrowers with a 35% deposit. These include:
- 2.69% five-year fixed rate mortgage with £345 product fee
- 2.79% five-year fixed rate mortgage with £345 product fee and £500 cashback on completion
- 2.79% five-year fixed rate mortgage with £345 product fee, free standard legal services and free standard valuation
Jemma Anderson, Mortgage Product Manager, said:
“Yorkshire Building Society is always looking for ways to help first time buyers on to the property ladder. This goal has been at the heart of our business since its creation and we believe these rate reductions will provide borrowers with more options as they look for value for money from their first mortgage.”
Source: Financial Reporter.