Yorkshire Building Society has announced it is launching new mortgages with rates of less than 1%.

The society has become the latest lender to offer such rates, with home loans available for borrowers requiring up to 75% LTV.

A two-year fixed rate of 0.95% is now available at 65% LTV, while a two-year fixed rate of 0.97% is available for borrowers who require 75% LTV. Both rates are on offer to homebuyers and those remortgaging and come with a £1,495 fee.

Borrowers with 65% LTV looking to fix their initial deal term for longer could benefit from a 1.30% rate fixed for five years, which comes with a lower fee of £495, £250 cashback and free standard valuation.

The Yorkshire also offers a seven-year fixed rate of 1.60%, which comes with a £495 fee and free standard valuation.

Yorkshire Building Society senior mortgage manager, Ben Merritt, commented: “We’re really pleased to add these latest deals, which include our lowest rates for a number of years, to our mortgage range to give borrowers more competitive choice when financing their home.

“With many homeowners and buyers keen to take advantage of the current low rate environment we’ve strengthened both our short and longer term deals with a variety of options suited to varying borrower needs, including no and low fee mortgages, and those with additional features such as cash back and free standard valuation.”

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