The Yorkshire Building Society has launched a two-year fixed rate mortgage at 1.14%.

The deal is available up to 65% LTV and comes with a £1,345 product fee. It is available on either remortgages or house purchases.

Brendan Gilligan, mortgage manager for Yorkshire Building Society, said: “It’s a very competitive mortgage market at the moment, which is good news for anyone looking to remortgage or buy a property, as they could benefit from some very competitive rates.

“As a mutual which exists for the benefit of its members, we try to ensure these savings are passed on through competitive rates wherever possible. This market-leading rate is available to borrowers with a 65% loan-to-value and hope it will prove popular with borrowers.”

Rachel Springall of Moneyfacts, added: “This latest market-leading fixed rate mortgage from Yorkshire Building Society is likely to prove popular with borrower’s looking for a short-term deal with a trusted brand. The deal also allows borrowers to overpay their mortgage which will be great news for those who want to reduce their loan more quickly.”