The West Brom Building Society cut interest rates by up to 23 basis points in core, shared ownership and new construction transactions.
Within its core purchase range, the lender lowered the two-year fixed interest rate for 80% LTV products by 7 basis points and is now available at 4.46% without fees.
It also launched four new products with 85% LTV in two years of fixed-rate purchases and cashing in fixed-rates.
One of the most competitive products is a two-year fixed interest rate of 4.48% and a fee of £999, up to 85% LTV.
The two-year fixed at 80% LTV at 80% LTV dropped 6 basis points to 4.23%, and the fee was £999.
Within shared ownership, 13 basis points of fee and no fee reduction on 90% LTV’s two-year fixed product.
The new five-year fixed interest rate is £999 and the LTV is 90%.
Within the new build scope, the two-year fixed interest rate has been reduced by 23 basis points, providing 95% LTV.
Product Manager Aran Mann said: “We have been looking at how to make products work harder for brokers and their clients, especially in today’s environment where the burdensome stress has been kept in mind.
“These latest changes reflect our ongoing commitment to supporting borrowers, including those with lower deposits, providing them with greater value and flexibility to be available in a wider range of demand.
“The support and insight we receive from intermediaries continue to play a crucial role in shaping our range of products.”
Today, money facts data show that the average two- and five-year fixed interest rates have remained the same.
