The West Brom has sharpened up its rates for borrowers looking for a long term fix over ten years.
There are also no booking or completion fees to pay on any mortgage in the Society’s ten year range.
Fixed rates have been reduced from 2.79% to 2.59% for new purchasers, home movers and remortgage customers at a maximum loan to value (LTV) ratio of 65%. A rate of 2.89% is available at up to 80% LTV, a reduction of 0.10% on the West Brom’s previous offering.
All products in the range include a free valuation, while those borrowers who are remortgaging also qualify for fees assisted legals. The mortgages are portable, which means borrowers can transfer their product if they wish to purchase a new property during the term without incurring any early redemption charges.
David Taylor, the West Brom’s Head of Products, said: “We regularly review our mortgages to ensure they are meeting customers’ needs and remain competitively placed in the market.
“This isn’t just for our rates of interest; we also look at the incentives and fees that can help keep the total cost of borrowing down.”
The West Brom has also changed a number of its two year fixed rate mortgages. Products up to 80% LTV no longer have booking fees and selected rates have been lowered. These include a two year fix now at 1.74% (up to 65% LTV) and a new remortgage rate of 1.99% (up to 80% LTV).
West Brom mortgages are available directly from the Society or via selected intermediary partners. Products revert to the West Brom’s standard variable rate of 3.99% at the end of their fixed rate terms.