THE Yorkshire Building Society has launched a new range of mortgage products. It ncludes a five-year loan consisting of a 12 month tracker currently at 4.25 per cent, followed by a four-year capped rate at 5.99 per cent and a three-year loan fixed at 4.99 per cent.

In addition, all Yorkshire mortgages offer six months' free mortgage protection insurance, interest calculated on a daily basis and have no compulsory insurances or early repayment charges beyond the special rate period.

Chris Parrish, Yorkshire Building Society's group treasurer, said: "The Bank of England has cut interest rates six times this year and the events of September 11 have exacerbated concerns that the economy will continue to weaken. The financial markets are expecting at least one more rate cut this year.

"Looking further ahead, once the immediate concerns recede, attention is likely to focus on a recovery and in that environment, the recent "insurance policy" rate cuts are likely to be reversed."