Yorkshire Building Society makes mortgage more accessible

Yorkshire, the UK's second largest building society, has made home ownership more accessible over the summer.

New data shows that since refreshing its range of First Time Buyer mortgage products in June, there's been a surge in demand. The number of people with smaller deposits helped onto the property ladder has doubled month on month.

Today, Yorkshire has again reduced the rate of its First Time Buyer mortgage to 5.59%. This two-year fixed-rate is available to those with a 10% deposit and has added features to help with the up-front costs: free standard valuation service, free legal service and £500 cashback. Another option adds free home insurance at a rate of just 5.69%.

Chris Smith, Senior Product Manager at the Yorkshire, said: "We're very aware of the difficulties first time buyers face getting onto the property ladder. As a national building society, our aim is to help people to own a home. A mortgage is more than just an interest rate and our customers are looking for affordability and good value, which our first time buyer mortgages provide."

As a responsible lender, affordability is a big consideration. The Yorkshire's fully trained mortgage advisers will help first time buyers select the type of mortgage that's right for them from a range that  accommodates borrowers with deposits of between 10 and 15%.