Best buy five year fixed rate mortgage

Yorkshire Building Society aims to retain its place at the head of the best buy tables with two reduced fixed rate mortgage deals.

As part of reductions to rates across the Yorkshire's mortgage range, the cost of two year and five year fixed rate mortgages has fallen - to 2.59% and 3.49% respectively, with a £995 fee.

In addition, for borrowers looking to minimise their upfront costs there is a two year fixed rate mortgage at 2.79% and a five year fixed rate mortgage at 3.69%. Each of these carries a £95 fee, with £250 cashback.

The two and five year fixed rate deals are available for mortgages at 75% LTV and are on offer to new and existing customers.

Yorkshire's Group Direct Mortgage Manager Chris Smith said: "We are committed to offering our members the best value for money and strive to keep our rates competitive.

"The fixed rate deals are particularly attractive and have been introduced in response to demand from borrowers wanting the security of fixing the same regular monthly mortgage repayment, at a time when their household budget continues to be squeezed.

"The two and five year periods continue to offer borrowers choice and offset options are available too."

Borrowers can use the Yorkshire's online mortgage checker - at ybs.co.uk/mortgages/tools.html - to understand better how interest rate rises could increase their monthly payments and the potential benefits of fixing their rate for a specific term.