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West Brom BS ups maximum loan size and cuts rates

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  • 03/05/2019
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West Brom BS ups maximum loan size and cuts rates
West Brom Building Society has increased the maximum loan size for purchases to a loan to value (LTV) ratio of 95%.

 

The society said that this increase aims to benefit first-time buyers looking to secure their own home.

Customers can borrow up to £350,000, up from the previous limit of £250,000.

West Brom BS has also cut its rates by up to 0.15% across the 95% LTV range.

For a two-year fixed rate product, rates have been cut from 2.99% to 2.84%, but for a five-year fix, they have been reduced to 3.44% from 3.59%, with £1,500 cashback.

The society has also added a three-year fixed rate to the range at 3.14%.

Richard Scott, the West Brom’s head of intermediaries, said: “We recognise the importance of helping the next generation of homeowners to secure their first property and have proven experience in providing a choice of good value mortgage products.

“These changes should help to broaden the West Brom’s reach in this particular market segment.”

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