The West Brom is increasing choice for its mortgage customers with the introduction of a new three year fixed rate product.
With a Best Buy rate of 2.25 per cent fixed until 31 August 2016, applicants can borrow between £25,001 and £250,000 at a maximum loan to value ratio of 65 per cent.
The mortgage reverts to Bank Base Rate plus 3.49 per cent for the term (subject to a Bank Base Rate floor of 0.50 per cent, currently 3.99 per cent variable).
It is available to customers who are purchasing, moving or remortgaging and applications can be made directly through the building society’s branch network or over the phone.
There is a £99 booking fee and a £1,895 completion fee. The overall cost for comparison is 3.7 per cent APR.
James Wright, the West Brom’s divisional director for marketing and e-commerce, said: “With this latest addition to our mortgage range we are responding to customer needs by offering increased flexibility in the fixed rate periods they can choose from.
“Our mortgage customers can now access competitive rates on two, three and five year fixed rate products and enjoy the certainty and peace of mind that comes with fixing their monthly payments.”
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