The Yorkshire Building Society has launched a 1.14% two-year fixed rate mortgage, which it claims is the lowest fixed rate available on the market.

Available at 65% loan to value (LTV), the mortgage has a £1,345 product fee and is available as an equivalent offset at 1.34%.

Brendan Gilligan, product manager at the Yorkshire Building Society, said: “We’re really proud to launch this market-leading rate, which is the lowest fixed rate available from any provider. As a mutual organisation, we’re owned by our members and reinvest our profits back into the business in order to offer member the best rates on the market.”

Charlotte Nelson, spokesperson at Moneyfacts, said: “This attention-grabbing 1.14% two-year fixed deal from Yorkshire Building Society is the lowest fixed rate mortgage on the market today.

“It is available at 65% LTV, and thanks to its highly competitive rate, it will be a great choice for those who are looking to secure low monthly repayments.”