You are here: Home - News -

West Brom launches mortgage cashback deals

by:
  • 24/03/2017
  • 0
West Brom launches mortgage cashback deals
The West Brom Building Society has added cashback offers to a series of five-year fixed rate products launched today for up to 90% loan to value (LTV) loans.

It has also removed a completion fee from similar remortgage products.

First-time buyers and home movers taking out one of the mortgages with the mutual will receive £500 cashback on completion of an 85% LTV product, or £1,000 for the 90% LTV product.

They are available for loan sizes up to a maximum of £500,000 and include a free first standard valuation with no booking or completion fees.

The lender has removed completion fees of £400 from its remortgage products at both 85% and 90% LTV, which include a free first standard valuation with no booking fee.

West Brom head of products David Taylor said: “We know that many of the borrowers opting for products at up to 90% LTV are buying a home for the first time.

“Reducing the costs associated with taking out a mortgage means they can focus instead on saving for that all-important deposit.

“Those borrowers qualifying for cashback can also put the payment to good use against other essential expenses, such as stamp duty where applicable, conveyancing fees or even furnishing their new property,” he added.

The revised products are:

 

Five-year fixed rate at 2.59%, fixed until 30/06/2022

For loans up to 85% LTV; available to customers who are purchasing or moving home; no booking or completion fees are payable; includes a free first standard valuation (worth up to a maximum of £445); cashback of £500 payable upon completion; the overall cost for comparison is 3.5% APRC.

 

Five-year fixed rate at 2.99%, fixed until 30/06/2022

For loans up to 90% LTV; available to customers who are purchasing or moving home; no booking or completion fees; free first standard valuation (worth up to a maximum of £445); cashback of £1,000 payable upon completion; the overall cost for comparison is 3.7% APRC.

 

Five-year fixed rate at 2.54%, fixed until 30/06/2022

For loans up to 85% LTV; available to customers who are remortgaging; no booking or completion fees; free first standard valuation (worth up to a maximum of £445); fees assisted legals; the overall cost for comparison is 3.5% APRC.

 

Five-year fixed rate at 2.79%, fixed until 30/06/2022

For loans up to 90% LTV; available to customers who are remortgaging; no booking or completion fees; free first standard valuation (worth up to a maximum of £445); fees assisted legals; the overall cost for comparison is 3.6% APRC.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @OTJournalist: “As the reality of April’s tax changes starts to bite, the proportion of deals available to limited companies has grown d…
  • RT @OTJournalist: "Mortgage industry faces a conundrum. It needs to embrace technology to give consumers more choice & efficiency but fears…
  • RT @MtgSearchGo: Buy-to-let product numbers for limited companies doubled in 12 months - #Mortgage Solutions https://t.co/722e3F6YFi via @m
Read previous post:
2358639-empty-pockets-no-money
Housing hits 30+ times salary for many

The vast majority of UK workers have seen housing become less affordable over the last five years with just five...

Close