Fixed rates on 90 per cent loan-to-value (LTV) mortgage products are to be reduced by Yorkshire Building Society .
The group announced it will cut the levels by up to 0.25 per cent from tomorrow (June 8th), meaning a two-year fixed-rate home loan will feature rates starting at 4.49 per cent.
As a result, customers looking to buy or remortgage will be able to get their hands on a five-year fixed-rate deal of 90 per cent LTV at 4.74 per cent.
Jemma Smith, mortgage product manager at Yorkshire – which is the second largest building society in the UK – said: “We have been offering best buy rates at higher LTVs for some time and are committed to offering competitive deals to buyers with smaller deposits, first-time buyers in particular.”
Ms Smith explained assisting this group as they attempt to get their foot on the first rung of the property ladder is a priority for the building society, noting one-quarter of the arrangements made through the institute relate to people looking to enter the housing market for the first time.
