Yorkshire Building Society is improving its offering to customers with the smallest deposits of 5 per cent looking to get onto the property ladder.
The society launched a reduced two-year fixed rate offer at 4.14 per cent and an £845 product fee for loans with 95 per cent loan-to-value (LTV).
It also rolled out a five-year mortgage at the fixed rate of 4.79 per cent and an £845 product fee in the same LTV range.
YBS has also lowered the rates on further tracker and fixed mortgage products by up to 0.20 percentage points.
Highlights include:
- 1.19 per cent two-year tracker rate at 65 per cent LTV with an £845 product fee
- 1.84 per cent three-year fixed rate mortgage at 65 per cent LTV with an £845 product fee
- 2.49 per cent five-year fixed rate mortgage at 75 per cent LTV with an £845 product fee
- 2.79 per cent two-year fixed rate mortgage at 90 per cent LTV with an £845 product fee
Offset equivalent products are available at 0.20% higher on all mortgages except at 95% LTV.
Commenting on the rate cuts, Jemma Anderson, mortgage product manager at YBS, said: “We are always looking for ways to help first time buyers get on to the property ladder and we hope these rate reductions for borrowers with 5% deposits will help many people achieve the dream of owning their first home.”
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