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).
