Homebuyers can snap up a two-year fixed rate with Yorkshire Building Society at just 1.13 per cent.
The rate is available up to a loan-to-value of 75 per cent.
The product has a £995 fee but borrowers get a free standard valuation and £250 cashback with the deal.
Moneyfacts finance expert Rachel Springall says: “Borrowers with a 25 per cent deposit will be delighted by this deal as it offers a low rate and a generous incentive package.“
YBS mortgage manager Janice Barber says: “We hope this addition will appeal to customers with a sizeable amount of equity in their home or deposit. In particular, it may appeal to those who are coming to the end of their current deal and are on the lookout for a great rate.”