The Yorkshire Building Society has moved to support first-time buyers by reducing its 95% loan-to-value (LTV) two-year fixed rate mortgage to 3.15%, with £250 cashback on completion.

Buyers and remortgage customers with a 15% deposit will also have access to a two-year fixed rate mortgage at 85% LTV at 1.32%. Both products come with a £995 product fee.

Charles Mungroo, mortgage manager for Yorkshire Building Society, said: “We’re committed to offering a variety of competitive home loan options to suit a range of borrowers’ needs and are proud to be able to offer the lowest rates currently available from any provider.

“We hope our latest rate reductions will appeal to customers with smaller deposits and help first-time buyers get a foot on the property ladder.”