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West Brom BS launches pair of 95 per cent LTV deals

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  • 09/04/2021
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West Brom BS launches pair of 95 per cent LTV deals
The West Bromwich Building Society has launched its 95 per cent loan to value (LTV) mortgages range for first-time buyers and homemovers.

 

Fixed for three years, borrowers can secure a rate of 3.94 per cent.

A rate of 4.04 per cent is available to borrowers who want to fix their rate for five years.

Both deals have no completion fee.

The mutual has set a maximum loan amount of £250,000 and a 30-year term.

A 90 per cent LTV purchase deal at 3.44 per cent has also been added to the society’s range. It has no completion fee and £500 cashback.

Richard Scott, head of intermediaries, said: “Supporting first-time buyers has been a key focus for the society for many years.

“We know that throughout the pandemic options were limited in the higher LTV market, making it more difficult for those with smaller deposits to achieve homeownership.

“We’re pleased to be joining other lenders in the 95 per cent market, and enhancing our 90 per cent offering, providing more choice to homebuyers whilst maintaining our service standards.”

The 95 per cent LTV mortgage deals are being launched outside the government’s mortgage guarantee scheme.

 

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