West Brom BS cuts selected 3-year, 5-year rates by up to 24 basis points – Mortgage Strategy

West Brom Building Society has cut interest rates by up to 24 basis points on a range of three- and five-year fixed-rate mortgages, targeting first-time buyers, home movers and those looking to remortgage.

The mutual said that for FTBs and removals companies, the interest rate on its five-year 95% loan-to-value no-fee product has been reduced to 4.84%, while the cost of its three-year 95% LTV offer has been reduced to £499 at an interest rate of 4.79%.

For refinancers, new products have been launched, including a three-year 75% LTV no-fee option (at an interest rate of 4.35%), with £500 cashback. The association also reduced rates for its three-year 80% and 90% LTV products.

John Phillips, product manager at West Brom Building Society, said: “By reducing these rates and introducing new products, we are helping customers find a deal that suits their needs, particularly those who prefer the stability of a five-year fix.

“Our latest price reductions demonstrate our commitment to helping first-time buyers reduce their deposits and continue to provide great value to homeowners looking to remortgage.”