The Yorkshire Building Society has reduced rates across its fixed rate mortgage range.

The society has reduced rates on its range of fixed rate mortgages for borrowers with 65% and 75% LTV by up to 0.15 percentage points.

Both homeowners and buyers can now get a five-year fixed rate of 1.59% at 65% LTV, which comes with a completion fee of £1,495. Alternatively those looking to minimise upfront costs can opt for a rate of 1.64%, with a £495 fee and free standard valuation.

Fee-free five-year fixed rate mortgages are also available to borrowers with 35% equity, at a rate of 1.99%. Homebuyers opting for this rate would also benefit from free standard valuation, and those looking to remortgage would get an additional £300 cash back and free legal fees.

New deals available to both homeowners and buyers include:

• Two-year fixed rate of 1.51% (65% LTV) with a £495 fee and free standard valuation
• Three-year fixed rate of 1.62% (65% LTV) with a £495 fee and free standard valuation
• Two- year fixed rate of 1.60% (75% LTV) with a £495 fee and free standard valuation
• Five –year fixed rate of 1.63% (75% LTV) with a £1,495 fee and free standard valuation

Emma Jaggar, mortgage product manager at Yorkshire Building Society, said: “We continue to see homeowners and buyers turn to fixed rates deals, as the certainty of being able to budget monthly repayments proving a comfort for many.

“We’ve improved our product range to offer borrowers better value and more choice and deliberately shaped our new mortgages to meet a variety of customer needs, with competitive options including lower rates, low completion fees, and free standard valuation on selected mortgages.”