Yorkshire Building Society has announced new mortgage rate cuts for people with smaller deposits.
The organisation said the move represents a continuation of its commitment to offering competitive products for this class of homebuyer.
Rates on 90 per cent loan-to-value (LTV) mortgages have been cut by up to 0.25 per cent and have resulted in a two-year fixed-rate at 4.39 per cent, a three-year version at 4.79 per cent and a five-year fixed-rate at 4.94 per cent.
The arrangements are available through Yorkshire branches and come with a £995 fee.
Sunjeev Sahota, product manager at Yorkshire, said the building society recognises the challenges faced by house-hunters who are only able to stump up smaller deposits.
Mr Sahota explained that by placing more emphasis on the 90 per cent LTV tier, the group will be able to help more individuals access the housing market.
He stated Yorkshire is not distancing itself away from its building society roots, however, adding: “We want to help people borrow the money they need to buy their own home, regardless of whether they have a big or small deposit.”
