Yorkshire Building Society has just launched a new two-year fixed rate mortgage priced at 3.68% until 31.1.18. This deal is for first and second-time buyers who borrow £50,000 up to a maximum of £500,000 at 95% loan-to-value (LTV). A fee of £975 is payable, of which £845 can be added to the mortgage.

Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, said:

“Yorkshire Building Society has improved its range for smaller deposit holders, with the 3.68% two-year fixed rate deal and enters the 95% LTV market as one of the lowest deals in its sector.

“This competitive offer is likely to be an attractive to those with a modest deposit of 5% looking to keep their monthly repayments down.

“The 95% LTV market is the strongest it has been for a long time with the average rate falling and the number of products increasing from 109 two years ago to 242 today. In that time we have seen the average two-year fixed rate mortgage at 95% LTV decrease from 5.01% two years ago to 4.29% today.

“The improving 95% LTV mortgage market will come as a welcome relief to many borrowers who have struggled to find suitable mortgage deals within their financial capabilities. However, these deals won’t be available forever, so borrowers need to act fast to secure a great deal.”

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Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

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