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West Brom launches two-year fix at 2.59%

  • 06/09/2012
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West Brom launches two-year fix at 2.59%
West Bromwich Building Society has launched a two-year fixed rate mortgage at 2.59%.

The 2.59% deal is for house purchase and remortgage customers up to 60% LTV, a £99 booking fee and £1,895 completion fee applies. The product is available direct only.

The mutual withdrew from the intermediary market in 2008 and a spokesperson for the West Brom confirmed to Mortgage Solutions that it had “no plans” to re-enter the intermediary sector at present, but would monitor the situation until market conditions improve.

The society has also launched a two-year fix for remortgage customers at 3.69%, available up to 75% LTV with a £99 booking fee and no completion fee. This product also includes a free first standard valuation and free standard legals.

A five-year fixed rate product has been launched for customers purchasing or moving home at 3.64%, with a £99 booking fee and £899 completion fee, while a two-year tracker is available at Base Rate + 2.14% up to 75% LTV with a £99 booking fee and £1,995 completion fee.

Stephen Leonard, 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.”

“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.”

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