The West Brom Building Society has cut interest rates within its three-year fixed mortgage range, cutting as much as 0.23%.
The association has reduced loan-to-value (LTV) by 95% for three years, while the fee without fees is 0.23% to 5.08%, while the 95% for three-year fixed amount (£499) is reduced by 0.22% to 4.98%.
The cost of 90% of LTV’s three-year fixed fee of £999 has been cut by 0.22% to 4.67%, while 90% of LTV’s three-year fixed rate has dropped by 0.22% to 4.88%.
The association also extended its final date, which will now last until September.
These changes are for products that support first-time buyers and porters with lower deposits.
In addition, the association will launch a three-year fixed-rate product with 95% LTV specifically for new homes, at a price of 5.12% and a fee of £499.
“We are pleased to lower the three-year fixed-range interest rate to support more customers to own ownership. Supporting borrowers with smaller deposits is a key priority for us, especially in today’s challenging markets, where affordability remains a key issue.”
Last month, West Brom lowered interest rates on shared ownership and newly built mortgaged products for two years.
