Heading up the range from the UK’s sixth largest building society is a Best Buy 2.59% mortgage fixed for two years at a maximum loan to value (LTV) ratio of 60%.
There are competitive fixed rate deals over a five year term starting at 3.64% (up to 75% LTV) and mortgages that track Bank Base Rate for two years starting at 2.64% (up to 75% LTV).
Stephen Leonard, the West Brom’s divisional director for marketing and e-commerce, said: “This launch represents a welcome return for the West Brom to the top of the Best Buy tables, delivering a really competitive range of mortgage products. Customers looking for low rates have a wide choice of fixed rate or tracker deals with us.”
The Society has also included a number of remortgage products with no completion fees, a free first standard valuation and free standard legal services.
“We have considered those who don’t want to pay high fees to arrange their mortgage and adding a free valuation and legal services to these products ensures even greater affordability and convenience,”
All new mortgages in the range revert to Bank Base Rate plus 3.49% (subject to a Bank Base Rate floor of 0.5%, currently 3.99% variable).
Mortgage applications can be made through one of the West Brom’s 38 branches or by calling 0800 298 0008. Full product details and mortgage calculators are available at www.westbrom.co.uk.
Notes to editors
Product highlights from the West Brom’s new mortgage range include:
Two year fixed rate at 2.59%, fixed until 30/11/2014
Market leading rate for loans up to 60% LTV; available to customers who are purchasing, moving, remortgaging or switching provider; there is a £99 booking fee and a £1,895 completion fee; the overall cost for comparison is 3.9% APR.
Five year fixed rate at 3.64%, fixed until 30/11/2017
Up to 75% LTV; available to customers who are purchasing or moving home; £99 booking fee, £899 completion fee; overall cost for comparison is 4.0% APR.
Two year Bank Base Rate Tracker at 2.64%
Bank Base Rate plus 2.14% until 30/11/2014 with a Bank Base Rate floor of 0.5%; up to 75% LTV; available to customers who are purchasing or moving home; £99 booking fee, £1,995 completion fee; overall cost for comparison is 3.9% APR.
Two year fixed rate at 3.69%, fixed until 30/11/2014
For loans up to 75% LTV; available to customers who are remortgaging or switching provider; there is a £99 booking fee; no completion fee is payable; deal includes a free first standard valuation (worth up to a maximum of £525) and free standard legals; the overall cost for comparison is 4.0% APR.