The West Bromwich Building Society is now offering a 10-year fix at 3.99% with additional incentives for both purchasers and remortgage customers.
Available at a maximum loan to value (LTV) ratio of 75%, the portable mortgage has a £199 booking fee.
New purchasers or house movers pay a completion fee of £400 but qualify for a £500 cash-back payment. Remortgage customers pay no completion fee and receive a free first standard valuation and fees assisted legals.
David Taylor, the West Brom’s head of products, said: “We are pleased to be adding a ten year fix to our options for borrowers, which increases choice depending on how long they want to protect themselves against a rate change for.
“We are offering a competitive rate of interest, plus incentives that help keep the overall cost of borrowing down and the flexibility to take the mortgage with you should you need to move home.
“Knowing exactly what you will be paying each month over a longer term gives peace of mind and can help with budgeting. It also saves people the time and expense of remortgaging every few years.”
The West Brom has also reviewed its current mortgage range and lowered rates on selected five year fixes.
The biggest reduction is for remortgage customers with a 25% deposit, who now pay 3.09% instead of 3.39%. There is a £199 booking fee, no completion fee, a free first standard valuation and fees assisted legals.
Five year fixes now start from 2.79% (up to 65% LTV), reduced from 2.99%.