The West Brom is cutting the cost of borrowing over two years following a review of its fixed rate mortgage range.
Existing rates available directly from the building society and fixed until 30 November 2015 have been reduced by up to 0.50 per cent.
These include a two year fixed rate at 1.89 per cent with a maximum loan to value (LTV) ratio of 75 per cent, a £99 booking fee and a £900 completion fee.
For existing borrowers looking to remortgage, the West Brom has lowered its two year fixed rate to 2.39 per cent (up to 75 per cent LTV). There is a £99 booking fee, plus this mortgage has the added incentives of no completion fee, a free first standard valuation and fees assisted legals.
Two year fixed rate mortgage products available through the West Brom’s selected intermediary partners have also been improved as part of the review.
James Wright, the West Brom’s divisional director for marketing and e-commerce, said: “These changes improve our mortgage rates for customers looking to fix their repayments for two years. As well as competitive rates that help keep monthly repayments low, we are also offering customers incentives on certain deals that reduce the overall cost of borrowing.”
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