Yorkshire Building Society has delivered a welcome boost for borrowers by cutting mortgage rates by up to 0.25%.

This means lower monthly repayments for both new and existing homeowners. The building society has reduced rates across a range of fixed-rate mortgages, making it an ideal time to secure a great deal.

Here are some of the highlights:

• Two-year fixed-rate mortgage: The rate for this popular product has been slashed from 4.89% to 4.74% for those buying a home with a 75% loan-to-value. This deal comes with a £495 fee, £250 cashback, and a free valuation.
• Two-year fixed-rate remortgage: Existing homeowners can also benefit with rates lowered from 5.04% to 4.79% for a two-year fix at 75% LTV. This deal also offers a £495 fee, £250 cashback, and a free valuation.
• Five-year fixed-rate remortgage: For those seeking long-term stability, the five-year fix at 75% LTV has been reduced from 4.49% to a competitive 4.39%. This option comes with a £1,495 fee, free standard valuation, and a remortgage legal service.

Aidan Smith, product manager at Yorkshire Building Society, expressed the company’s commitment to supporting borrowers in the current economic climate. He stated, “We’re delighted to announce that we’ve sharpened our mortgage rates for the second time in the space of a month, and are particularly pleased to include some attractive Best Buy products in our new range.”

He further emphasised, “We’re watching market developments very closely in order to take every opportunity we can to pass value back to borrowers – understanding the pressures they continue to face due to today’s high-cost environment.”

This move from Yorkshire Building Society comes as welcome news for those looking to buy a home or remortgage their existing property. With rates falling, now could be the perfect opportunity to secure a competitive deal and save money on your monthly repayments.