Yorkshire reduces 2 year fixed rate mortgage costs

Yorkshire Building Society is launching a new 2 year fixed rate mortgage at 5.54%.

The new product also features a reduced application fee of £895 compared to the Society's normal fee of £995.

In addition, the current 4.99% 2 year fixed rate product with a 3% fee is being reduced to 4.89% with the fee reducing to 2.5% at the same time.

Tom Girling, Mortgage Product Manager at the Yorkshire Building Society said: "There are signs of increasing activity in the mortgage market which can only be helped by falling rates. We are keen to pass on money market rate reductions to borrowers who are finding life tough at the moment with all of the other cost of living increases in fuel and food items."