Changes include a five-year fix for first-time buyers at 95 per cent loan to value (LTV) which has fallen from 5.38 per cent to 4.98 per cent. This has a £995 fee, offers £250 cashback and comes with a free standard valuation.
A five-year fix at 75 per cent LTV for purchase, has dropped from 4.34 per cent to 3.92 per cent. This has a £1,495 fee and a free standard evaluation.
The remortgage equivalent, also at 75 per cent LTV, is now 3.83 per cent, down from 4.25 per cent. It has free legals, free standard valuation and a fee of £1,495.
At 85 per cent LTV, there is a two-year fix for both purchase and remortgage with a rate of 5.12 per cent, down from 5.62 per cent. This has no fee and offers a free standard valuation.
Ben Merritt, director of mortgages at Yorkshire Building Society, said: “Our mission is to offer the best value we possibly can to borrowers, to help them as they navigate historic cost-of-living challenges.
“The bright side of the ups and downs we’ve seen in market swap rates over recent weeks is that this brings opportunities to step in at the right time and grab competitively priced funding, that we can then pass on to borrowers, which is just what we’ve done in this instance.
“We hope people looking to buy or remortgage a home will view this as good news in the current climate.”
Keystone Property Finance cuts two-year fixed rates
Keystone Property Finance has reduced rates on all its two-year fixes within its ‘classic’ range by up to 0.4 per cent.
Products with a 4.5 per cent fee will see the largest reduction, while rates on its 3.5 per cent fee products have dropped by 0.3 per cent. Its products with a 2.5 per cent fee have gone down by 0.2 per cent in rate.
The classic range of products is open to mainstream landlords with standard buy-to-let criteria. Earlier this month, the lender announced it would divide its products into classic and specialist, with the latter being for landlords with specialist lending needs.
Rates begin from 4.29 per cent for a two-year fixed mortgage against a standard property, while for houses in multiple occupation (HMO) and multi-units up to six beds, rates start from 4.44 per cent.
Elise Coole, managing director at Keystone Property Finance, said: “As a business, we never want to rest on our laurels, and that is why we have quickly followed up on the launch of our new ranges with a major price reduction.
“We have now reduced rates twice in quick succession and we will continue to take proactive steps to enhance the products and services we offer to brokers.
“As a specialist lender built by brokers, we understand what it is that brokers are looking for and have the solutions in places to support them.”
