YBS lowers rates by up to 0.50% – Mortgage Strategy

Yorkshire Building Society has reduced rates across the board on its mortgage range.

Changes include reductions of up to 0.50% on five-year fixed-rate mortgages for borrowers buying a home with just a 5% deposit, with selected rates reduced by up to 0.29% for those remortgaging.

Two-year rates on products up to 90% loan-to-value (LTV) have also been  cut by up to 0.21%, with five-year rates at 75% LTV reduced by up to 0.24%.

For borrowers remortgaging with a 40% deposit, five-year rates also decrease by 0.25%.

Reductions include the loyalty cashback range, which provides an additional £250 cashback to members who have held a savings account with the mutual for at least 12 months.

These members can also refer friends or family, allowing them to access the same offer.

Highlights from the new range include a five-year fix up to 95% LTV for those purchasing a property, down from 6.29% to 5.79%.

This comes with a £1495 product fee and standard valuation (£250 loyalty cashback option also available if applicable).

In addition, the lender has lowered its Best Buy (according to Moneyfacts) five-year fix up to 75% LTV for those purchasing a property from 5.07% to 4.97%.

This comes with a £1495 product fee and standard valuation (£250 loyalty cashback option also available if applicable).

And a fee-free Best Buy (according to Moneyfacts) two-year fix up to 80% LTV for those purchasing a property, which has been lowered from 5.44% to 5.34%.

This comes with standard valuation (£250 loyalty cashback option also available if applicable).

Yorkshire Building Society managing director of homes Tom Simpson says: “This range refresh is part of our ongoing focus on helping more people to achieve homeownership. With a range of best buy products, we’re continuing to offer competitive value and choice for borrowers.”