Yorkshire Building Society confirms major overhaul of mortgage products - full breakdown here

Yorkshire Building Society has slashed its mortgage rates, introducing a sub-four per cent two-year remortgage deal as part of a comprehensive rate reduction across its product range.The reductions were announced yesterday (Thursday, April 17) and include reductions of up to 0.55 per cent on various mortgage products.This latest move from the lender comes as welcome news for prospective homebuyers and those looking to remortgage in the current market.The mutual's new offerings include several Best Buy deals with rates now starting below the four per cent threshold.As part of Yorkshire Building Society's latest move, it has implemented reductions of up to 0.55 per cent on products up to 90 per cent loan-to-value (LTV).On top of this, products sitting at 85 per cent and 80 per cent LTV have seen cuts of up to 0.40 per cent. For borrowers seeking 75 per cent LTV products, reductions of up to 0.37 per cent have been applied.Customers of the lender who are looking at 60 per cent LTV options will benefit from cuts of up to 0.35 per cent.These significant reductions span across Yorkshire Building Society's entire mortgage range, offering improved rates for borrowers with various deposit sizes.Among the standout offers is a two-year fixed rate up to 60 per cent LTV for remortgaging at 3.98 per cent, which is down from 4.23 per cent. This includes a £995 fee, free standard valuation and remortgage legal service.For home purchasers, there's a two-year fixed rate up to 75 per cent LTV at 3.92 per cent, down from 4.27 per cent, with a £995 fee and free standard valuation.First-time buyers with smaller deposits can access a fee-free two-year fix up to 90 per cent LTV at 4.68 per cent, previously being 5.23 per cent, which comes with a free standard valuation.Yorkshire Building Society product manager, Aidan Smith, expressed enthusiasm about the new rates. "We're delighted to respond to market conditions, using the opportunity to offer a competitive new range, including some Best Buy deals and several products coming in under four per cent, including one for those looking for a new lender," he said.Smith added that the Society would "continue to watch market developments closely, acting wherever we can to help our borrowers to make savings."LATEST DEVELOPMENTS:Santander to slash interest rates across mortgage products this week - full list of changesTariff turmoil: What Donald Trump’s trade war means for your mortgage, pension and savingsBank of England issues new update for anyone with a mortgageRachel Springall, finance expert at Moneyfacts, welcomed the rate reductions."It's fantastic to see Yorkshire Building Society make more cuts to fixed rates within its mortgage range," she said. "There are millions of borrowers due to refinance this year, so it's positive news to see rates coming down."