Yorkshire Building Society launches 4.49% mortgage for borrowers with a 5% deposit

Yorkshire Building Society is helping first-time buyers get a foot on the property ladder by launching a competitive two-year 4.49% fixed rate mortgage for borrowers with a 5% deposit.

The mortgage, which has an £845 product fee and will also help those looking to move up the property ladder, is one of the highlights of the Society’s new range.

The new range, which has undergone rate reductions of up to 0.35%, continues to offer the very competitive 1.29% two-year fixed rate for customers with a 35% deposit, as well as featuring a new two-year 1.59% fixed rate mortgage with a £345 product fee, which is also for customers with a 65% loan-to-value.

Highlights of the new 75% LTV range includes:

A two-year 1.54% fixed rate with a £845 product fee

A three-year 2.24% fixed rate with a £845 product fee

Jemma Anderson, Mortgage Product Manager at Yorkshire Building Society, said: “As a mutual society with customer-centred values, offering our members competitive mortgages with a high level of customer service is important to us. We’re very proud to be able to offer customers with a 35% deposit a 1.29% rate with a competitive product fee and believe these new rate reductions across the range will prove popular with a wide range of borrowers, with the 95% reductions helping more first-time buyers take that crucial initial step on to the property ladder.”