The rate has been cut by 0.60% to 3.79% (BoE + 3.29%) saving someone £1,200 in interest payments with a £150,000 mortgage over the 2 year term, says YBS. The product has a low fee of £495 and offers free valuation and legal fees to those people looking to remortgage. An offset version is also available priced at only 0.10% higher.
Tom Girling, mortgage product manager at the society commented: "With the lion's share of mortgage applications across the market being for variable rate loans, we expect to see a lot of interest from borrowers with this new best buy. The low fee should also prove very attractive for customers as many of the competitive deals in the market still come with high fees."
This new tracker deal follows hot on the heels of Yorkshire's recently launched 2 year fixed at 3.09% (up to 60% LTV), 3 year fixed at 4.14% (up to 75% LTV) and the 5.69% 2 year fixed first time buyer product (up to 85% LTV).
