Yorkshire Building Society has announced cuts to rates on selected tracker mortgages.
Following recent reductions to its home loans at 75 per cent loan-to-value (LTV), the group revealed decreases are being made to its tracker products at 75 per cent LTV.
These include drop lock mortgages and the track and fix deal, with most of the rates tumbling by 0.20 per cent.
Jemma Smith, product manager at Yorkshire Building Society – which has more than 3.3 million members and around 3,850 members of staff – noted: “We work hard to keep our mortgages competitive as part of our commitment as a building society to help home buyers … to fulfil their property aspirations.”
Ms Smith explained people looking to take advantage of current low rates while safeguarding themselves against possible increases might favour drop lock and track and fix mortgages, while a simple tracker option could be chosen by customers confident it will be some time before the Base Rate moves from its current historic low.
As part of the updates, consumers can now enjoy a two-year tracker mortgage available up to 75 per cent LTV at 2.79 per cent with £995 fee, while the offset equivalent stands at 2.99 per cent.
