Both mortgages are available up to 85% LTV and have free valuation and legal fees, £500 cashback and there are no upfront fees.

When compared to the average 85% LTV rates currently available, Yorkshire’s first-time buyers will save around £1,800 over the term of the three year fixed rate product, and with the five year product they will save around £2,800.

Iain Cornish, chief executive at the Yorkshire Building Society said: “We hope that these new mortgages will take some of the financial pressure off first time buyers as they have no fees to pay when they take out the mortgage and we provide £500 cashback when they complete which should come in very handy whether it be put towards stamp duty, removal costs or kitting out a new home.”