The cuts also apply to the society’s drop lock mortgages and its tracker and fix product, with the majority of its rates being cut by 0.2 per cent.
A two-year tracker is now available up to 75 per cent LTV at 2.79 per cent with a £995 fee, with the offset equivalent now available at 2.99 per cent.
The cuts only apply to the lender’s direct range of products.
YBS mortgage product manager Jemma Smith says: “We work hard to keep our mortgages competitive as part of our commitment as a building society to help home buyers -and homeowners who want to remortgage – to fulfil their property aspirations.
“Customers confident the base rate will remain at its historic low for some time yet may favour a simple tracker, while our droplock and track and fix mortgages may appeal to those who want to benefit from the current low rates whilst protecting themselves against potential increases.”