The product comes with a £1,345 product fee and can be taken as an offset mortgage with a rate of 1.34%.
Brendan Gilligan, product manager at Yorkshire Building Society, said: “We’re really proud to launch this market-leading rate, which is the lowest fixed rate available from any provider. As a mutual organisation, we’re owned by our members and reinvest our profits back into the business in order to offer members the best rates on the market.”
Accord, the society’s mortgage intermediary arm, made a number of changes to its processes and criteria last month.
In April, the lender lowered its minimum property valuation on buy to lets from £100,000 to £75,000 while expanding its criteria to allow landlord mortgages on ex-local authority homes.
The lender also announced it was close to completing a programme of staff training which involved up-skilling its case managers to become underwriters to streamline its application process for brokers.