The new offering is a 5 year fixed rate at 6.49% available up to 90% loan to value (LTV) with free valuation and legal fees and no upfront fees. The mortgage is available to first time buyers who have either been a Yorkshire member for over 12 months or who have a close family member or friend who has been a Yorkshire member for over 12 months.
The product widens the range currently offered by the Yorkshire to first time buyers who can also choose between a 3 year fixed rate mortgage at 5.84% and a 5 year fixed rate product at 5.99% at up to 85% loan to value (LTV) with free valuation and legal fees, 1% cashback and no upfront fees.
Iain Cornish, chief executive at the society said: "Rewarding our existing members for their loyalty and providing attractive mortgages to help first time buyers get a foot on the property ladder are both very important to us. We considered what would be most important to a new borrower and we hope that this mortgage will take some of the financial pressure off first time buyers as they have no mortgage fees to pay and we pay the valuation and legal fees.
"This new mortgage, along with our existing range, are available from all our branches, where our fully qualified mortgage advisers can guide and support first time homeowners through the house buying process."
