Privileged Membership

To qualify for our Privileged Membership scheme, you need to have been a member of the Society for two years or more and have registered for Privileged Membership.

The scheme provides members with access to savings products that are exclusive to Privileged Members. Privileged Members who have had their current mortgage product with the Society for five years or more can also qualify for the Privileged Membership Mortgage Discount, which currently offers a 0.40% discount off our standard variable Base Interest Rate.

TERMS AND CONDITIONS
It may be necessary for the Society to review, vary or withdraw Privileged Membership benefits in the future. Details of such changes will be issued annually to Privileged Members. Alternatively, they are available from West Bromwich Building Society direct on 0845 33 00 655 or from any of our branches.

Mortgage Discount

The Privileged Membership Mortgage Discount is exclusive to Privileged Members who have had their current mortgage product with the Society for five years or more and whose mortgage is on the Society's standard variable Base Interest Rate.

The Privileged Membership Mortgage Discount is currently 0.40% below our standard variable Base Interest Rate. This represents a saving against base rate of £400 a year on a typical £100,000 repayment mortgage.

Key features

• If you have had your current mortgage with the Society for five years or more, and are currently on our standard variable Base Interest Rate, you may qualify.
• The Privileged Membership Mortgage Discount is not available on the following products:
  1. fixed, capped or discounted mortgages while the fixed, capped or discounted rate continues;
  2. tracker products while the interest rate is linked to an external rate;
  3. loans which are regulated under the terms of the Consumer Credit Act;
  4. commercial loans, including Buy to Let mortgages

The Society may vary the terms of the Scheme or withdraw or vary the amount of the discount under the Scheme at any time, but if we do so we will give you notice in writing. If you decide to switch to this Scheme and the discount is withdrawn, your account will revert to the Society's standard variable Base Interest Rate.

To find out if you could be benefiting from the Privileged Membership Mortgage Discount, please contact your local branch or our mortgage helpline on 0845 330 0655.