Yorkshire Building Society has doubled its lending during August 2010 compared with the previous month.

The institution noted that since it made a reduction on the rates of its First-Time Buyer mortgage there has been an increase in demand, which has resulted in this boost to its lending figures.

Offering a lower rate of deposit, the mortgage has been used by first-time buyers without a lot of capital to put forward to get their feet on to the property ladder.

Chris Smith, senior product manager at the Yorkshire, said: "A mortgage is more than just an interest rate and our customers are looking for affordability and good value, which our first time buyer mortgages provide."

To help even more people to access the loan, the lender announced that it is to reduce the rate again to 5.59 per cent for a two-year fixed rate and a ten per cent deposit.

The news follows a report from FirstRungNow.com, which claimed it was becoming easier to secure a mortgage.

Written by Graeme Pieterson

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