Yorkshire Building Society launches lowest ever five-year fixed rate

Yorkshire Building Society is cutting the rate on its market leading five-year fix from 2.64 per cent to 2.59 per cent from tomorrow.

The mutual launched its lowest ever five-year fixed rate last month at 60 per cent LTV but has today confirmed it will be cutting its by an additional 0.05 per cent down to 2.59 per cent with a £1,345 fee.

Yorkshire Building Society Mortgage product manager Brendan Gilligan says: “This year we want to give more people than ever the best deal on their mortgage, including those looking for longer deals that offer the reassurance of knowing how much their mortgage payments will be for the next five years.

“We have also made changes to our First Time Buyer products as we are keen to support those who are looking for their first step on the property ladder – and by removing fees we are hoping to help keep costs of owning your first home to a minimum.”

The FTB products include a two year fixed rate at 4.19 per cent up to 90 per cent LTV and a two year fixed rate at 3.89 per cent up to 85 per cent LTV. Both products are fee free.