Yorkshire to cut three- and five-year fixed rates

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Yorkshire Building Society is cutting rates on some three- and five-year fixed loans by 0.14 per cent tomorrow.

The lender is applying the changes to fixed-rate mortgages at 65, 75 and 85 per cent LTV residential and remortgage loans.

The changes mean the lender will offer a three-year fix at 1.88 per cent for borrowers with a 25 per cent deposit and a 2.03 per cent three-year fix at 85 per cent LTV.

The lender’s new five-year fixed loans will include deals at 1.98 per cent at 65 per cent and 2.08 per cent at 75 per cent.

Each mortgage comes with a £845 fee.

Yorkshire Building Society mortgage product manager Brendan Gilligan says: “Our rate reductions will offer borrowers with a range of deposits competitive rates and the security of knowing how much their mortgage repayments will be for the next couple of years, especially during this time of economic uncertainty.”