Yorkshire BS cuts rates

In addition, for borrowers looking to minimise their upfront costs there is a 2-year fixed rate mortgage at 2.79% and a 5-year fixed rate mortgage at 3.69%. Each of these carries a £95 fee, with £250 cashback.

The 2-year and 5-year fixed rate deals are available for mortgages at 75% loan to value and are on offer to new and existing customers.

Yorkshire's group direct mortgage manager, Chris Smith, said: "We are committed to offering our members the best value for money and strive to keep our rates competitive.

"The fixed rate deals are particularly attractive and have been introduced in response to demand from borrowers wanting the security of fixing the same regular monthly mortgage repayment, at a time when their household budget continues to be squeezed.

"The 2-year and 5-year periods continue to offer borrowers choice and offset options are available too."

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