Yorkshire Building Society is making price reductions to its longer term products.

From 20 June the mutual will be cutting the rate on its 10-year mortgage to 3.89%, 75% LTV (loan to value) and it is available fee free.

The Yorkshire is also launching a new five year mortgage, available at 2.44%, 65% LTV with a £1,345 fee.

Yorkshire Building Society product manager Brendan Gilligan said: “We have witnessed a real demand for our longer term mortgages and are confident that these latest rate cuts will be welcome news to the mortgage market.

“We understand that for most home owners their monthly mortgage payment is one of their biggest financial commitments and these excellent competitive rates help them plan for the longer term.

The society will also be launching a two-year mortgage (65% LTV) at 1.69%, with a £1,345 fee.