The West Bromwich Building Society has reduced rates for borrowers looking for a long term fix over 10 years.
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 basis points 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 and there are also no booking or completion fees to pay on any mortgage in the Society’s ten year range.
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).