New fixed rate options for borrowers with the West Brom

Building society the West Brom has unveiled a new two year fixed rate mortgage at 1.29%.

Available at a loan to value (LTV) ratio of up to 65% for new purchasers or borrowers who are moving home, the mortgage has a £199 booking fee and an £800 completion fee. The maximum loan size is £250,000.

The Society has also reduced rates on a number of its five year fixes by 0.10%. The five year range now starts at 2.49% (up to 65% LTV), a deal which comes with a £199 booking fee and a £400 completion fee.

For borrowers with a smaller deposit of 20%, the West Brom has a five year fixed rate available at 2.89% (up to 80% LTV). This also has a £199 booking fee and a £400 completion fee, plus it includes a free first standard valuation.

The West Brom is the UK’s seventh largest building society. Based in West Bromwich in the West Midlands, the Society has more than 450,000 members and operates a network of 37 branches.

Head of products David Taylor said: “We’re pleased to be strengthening our offer for mortgage customers at a range of different deposit levels, including highly competitive fixed rates over two and five year terms.

“There is considerable competition between lenders in the mortgage market at the moment, which makes it an ideal time for would-be purchasers or existing homeowners to review their options and get a good deal.”

For more information, visit westbrom.co.uk.