The mutual introduced an interest-only two-year fixed-rate purchase product up to 60% loan-to-value (LTV) at 4.66% with a £999 fee. A corresponding remortgage product is also available up to 60% LTV, priced at 4.88% with a £999 fee and £500 cashback.
Its discount variable products allow borrowers to benefit from any future reductions to the mutual’s standard variable rate (SVR). The purchase product is available on a two-year term up to 90% LTV at 4.49% with a £999 fee, while the remortgage option is available up to 90% LTV at 4.60% with a £1,499 fee and £500 cashback.
Alongside these new launches, West Brom reduced rates on selected products within its core three-year and five-year fixed-rate purchase range by up to 0.24%.
John Philips, senior product manager at West Brom Building Society, said: “We’re pleased to be introducing both interest-only and discount variable products back into our range, broadening the options available to brokers and their customers at a time when flexibility and choice remain important considerations.
“Our new interest-only y products provide solutions for customers with specific borrowing needs, while the discount variable range offers those who are comfortable with a variable rate the opportunity to benefit should the society’s SVR reduce in the future.
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“Alongside these launches, we’ve also made further reductions across selected purchase products to ensure we continue to offer competitive rates and support a wide variety of homebuyers and remortgage customers.”
