From today, borrowers moving home or looking to remortgage can apply for the best buy deal which has a fee of £995.
For those who would like a little extra help with their mortgage, a similar product will also be available at 5.09% offering free legal and valuation costs for those remortgaging or a free valuation and £250 cashback for those moving home.
Tom Girling, product manager for mortgages at the Yorkshire, commented: "This product presents a fantastic opportunity for borrowers looking for long-term value, protection from future interest rate rises and piece of mind when it comes to their mortgage payments.
"This is the first time in a year that a ten-year fixed rate mortgage has been under 5% and although ten years may seem to some like a long time to fix, the new deals are fully portable offering flexibility for those who may wish to move home before the end of the term.
"Over the last ten years the average mortgage standard variable rate across the market has been 6.2% so our new range of ten-year products offer great value."
