Yorkshire Building Society (YBS) has launched two new mortgages exclusively for those taking their first step onto the property ladder.
The mutual last week revealed it had helped a record number of first-time buyers in 2020, and has introduced the new fee-free mortgages for those with a 10% deposit to continue their support.
Both mortgages come with free standard valuation and £1,000 cashback.
The Yorkshire’s 2-year fixed rate mortgage for first-time buyers comes with a rate of 3.54%, while those looking for longer term stability can choose a 5-year fixed rate of 3.64%.
Borrowers with smaller deposits will also benefit from a number of other improved mortgages announced by Yorkshire Building Society.
Highlights from the new range include a 2-year fixed rate mortgage at 3.10%, which comes with a £995 completion fee and free standard valuation and a 2-year fixed rate mortgage at 3.39%, which comes with a £495 completion fee, free standard valuation and £750 cashback.
Ben Merritt, senior mortgage manager at Yorkshire Building Society, said: “First-time buyers are the lifeblood of the housing market and we’re committed to supporting them to help people realise their homeownership ambitions.
“These new mortgages have been designed for first-time buyers looking for low upfront costs and who would value £1,000 cashback.
“Buying your first house is a thrilling but expensive milestone, so we’ve included a significant cashback on completion incentive to help people make their first house a home.
“We’ve also made changes to benefit all borrowers requiring 90% LTV, and are offering a number of competitive rates, incentives and completion fees to give people more options and allow them to tailor their mortgage to meet their needs.”
The new and improved products are available from Wednesday 3 March.