Yorkshire Building Society is reducing interest rates by up to 0.20 percentage points on a number of its products, including fixed rate, and first time buyer mortgages.

For example, its five-year fixed rate product will be available at 2.59% up to 60% loan to value (LTV) with a £1,345 fee, and a two-year fixed rate mortgage at 2.19% at 60% LTV with a £345 fee.

The mutual is also reducing rates on all products in its first time buyer range, which come fee free.

First time buyer products include a two-year fixed rate at 4.19% up to 90% LTV and a two-year fixed rate at 3.89% up to 85% LTV; both products are fee free.

“This year we want to give more people than ever the best deal on their mortgage, including those looking for longer deals that offer the reassurance of knowing how much their mortgage payments will be for the next five years,” said Brendan Gilligan, Yorkshire Building Society’s mortgage product manager.

“We have also made changes to our first time buyer products as we are keen to support those who are looking for their first step on the property ladder – and by removing fees we are hoping to help keep costs of owning your first home to a minimum.”