Yorkshire Building Society has announced that it is launching a new two-year fixed rate mortgage at 5.54%.
The new product also features a reduced application fee of GBP895 compared to the society’s normal fee of GBP995. In addition, the current 4.99% two-year fixed rate product with a 3% fee is being reduced to 4.89% with a fee of 2.5%.
Tom Girling, mortgage product manager at the Yorkshire Building Society, said: There are signs of increasing activity in the mortgage market which can only be helped by falling rates. We are keen to pass on money market rate reductions to borrowers who are finding life tough at the moment with all of the other cost of living increases in fuel and food items.