The West Brom building society is introducing from today, 18 March, a new two-year fixed rate mortgage for first-time buyers and homemovers.
The product is available at a rate of 1.29 per cent and at 65 per cent loan-to-value (LTV) and comes with a £199 booking fee and an £800 completion fee. The maximum loan size is £250,000.
West Brom have also reduced the rates on some of their longer-term products.
Rates in the five-year fixed range have been cut by up to 10 per cent and the range is now available from 2.49 per cent at 65 per cent LTV.
There is a higher LTV offer at 80 per cent LTV for borrowers with smaller deposits. The fixed rate here is 2.89 per cent.
Both five-year offers come with £199 booking fee and a £400 completion fee.
David Taylor, head of products at West Brom, commented:
“We’re pleased to be strengthening our offer for mortgage customers at a range of different deposit levels, including highly competitive fixed rates over two and five year terms.
“There is considerable competition between lenders in the mortgage market at the moment, which makes it an ideal time for would-be purchasers or existing homeowners to review their options and get a good deal.”
