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West Brom offers market-leading two year mortgage

It’s been a constant menace to the high street lenders this year, and the West Bromwich Building Society continues to impress with further cuts to its mortgage range.
West Brom offers market-leading two year mortgage

 

The society has moved to re-price some of its two-year fixed rate deals at 80% loan-to-value, as activity begins to slow for the winter.

 

The lowest deal has been reduced to match the current market leader in this sector, at 2.19% until 28.02.17.

 

West Brom, the seventh largest building society in the UK with almost half a million members, offers loans of between £25,000 and £750,000. 

 

There are also cuts to the mortgage processing fees. With a low £199 booking fee and a modest £300 completion fee for home buyers, this undercuts its nearest rivals by some considerable distance.

 

Eligible buyers are likely to save £500 on fees alone from competing deals in the short-fix 80% sector, in addition to securing the best rate.

 

And once the recent changes in stamp duty are factored in, some buyers could experience a hefty saving compared to what they would have expected to pay just weeks ago.

 

Despite cuts to both the rate and the fee, West Brom has not sacrificed its incentive package. The deal comes with a free first standard valuation worth up to £525, and allows homeowners to make overpayments of up to £999 each month without incurring early repayment charges.

 

Keith McDonald

Which4U Editor

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