The Yorkshire Building Society has reduced rates on its longer-term mortgages.

The mutual now has five-year fixed rates starting from 1.84%.
Borrowers at 75% LTV can benefit from a five-year fixed rate of 1.96%, while keeping upfront costs down with a £495 completion fee and free legal fees.

The Yorkshire has also launched a seven-year fixed rate mortgage at 2.42% for borrowers needing 85% LTV, which comes with a £495 fee.

In addition, there is a 10-year fixed rate mortgage at 2.35% for borrowers needing 65% LTV, also with a £495 fee.

Charles Mungroo, senior mortgage manager at Yorkshire Building Society, said: “We continue to see borrowers considering longer-term mortgages, so we’ve updated our mortgage range to give customers more competitive choice.

“We understand arranging a mortgage can add up so as well as reducing the fixed term rates we’re also lowering the completion fee on a number of our longer-term mortgages and adding free standard valuations or legal fees depending on whether borrowers are buying a house or remortgaging.

“With Brexit uncertainty potentially weighing on the mind of homeowners and buyers, we hope reducing rates on our longer-term mortgages will help borrowers get some peace of mind by being able to set their monthly repayments for up to the next decade.”