The two-year discounted rate is available to borrowers looking to remortgage and is direct to consumer through YBS.
It comes after the Society announced earlier this month it had reduced pricing on its fixed-rate deals.
With a 65% loan-to-value (LTV), it tracks YBS’ standard variable rate (SVR) of 3.76%, which is a discount from its current 4.74% rate. It also comes with a £1,495 product fee and an interest rate collar of 0.00%.
Additionally, clients will be able to redeem their mortgage at any given time during the discounted period and only incur a 1% early repayment charge (ERC).
The home loan is also portable meaning customers can transfer their mortgage to a new property without incurring any charges.
Brendan Gilligan, product manager at YBS, said it was proud to launch the market leading rate and added: “The product will appeal to customers who are keeping an eye on interest rates.
“As well as being the lowest rate available from any provider, it also have the potential to reduce further if the Bank Rate drops.”
