Yorkshire Building Society has revamped its first-time buyer mortgage range.
This new range offers £1,000 cash back, plus fee-free options on selected mortgage products.
Deals available include a two-year fix at 2.29 per cent up to 90 per cent LTV, and a five-year fix at 2.89 per cent (also up to 90 per cent LTV).
For those with smaller deposits Yorkshire is offering a two-year fix at 3.69 per cent, and a five year fix at 4.34 per cent – both are up to 95 per cent LTV.
All these deals have no upfront fees and offer £1,000 cashback.
Yorkshire BS mortgage manager Janice Barber says this revamp was prompted by the Society’s research that showed two in five potential first-time buyers (42 per cent) were prevented from purchasing a property sooner because of the upfront costs involved.
This involved saving for a deposit as well as additional mortgage fees.
Barber adds: “This is why we’ve made a number of changes to our mortgage range most suited to first-time buyers and borrowers with smaller deposits.”
The mutual has also reduced rates across its mortgage range for borrowers with deposits of up to 10 per cent LTV who are moving home or remortgaging.