Yorkshire Building Society has cut rates on a number of direct-only fixed rate deals by up to 9 basis points.

The lender has reduced costs on a number of products for first-time buyers and remortgage borrowers all of which come with a £495 completion fee and free standard valuation:

• Its five-year fixed-rate at 85 per cent loan-to-value has come down from 1.99 per cent to 1.90 per cent.
• Its three-year fix at 65 per cent LTV has been trimmed from 1.6 per cent to 1.52 per cent.
• Its five-year fix at 80 per cent LTV has come down from 1.86 to 1.8 per cent.
• Its seven-year fixed at 65 per cent LTV has come down from 2.25 per cent to 2.22 per cent.
• Its seven-year fixed at 85 per cent LTV has been cut from 2.47 per cent to 2.43 per cent.

Yorkshire product manager Ben Reed says: “Our mortgages come in a variety of shapes and sizes as we aim to cater for a number of homeowners’ needs.

“We know borrowers are looking for the security of knowing what their monthly repayments will be, so we’ve updated our range of options to give people a choice of competitive mortgages.”