This includes its 80% loan-to-value (LTV) remortgage with a £999 fee, which has been cut by 0.3% to 4.39%. Meanwhile, the purchase product at the same tier, also with a £999 fee, has been reduced by 0.31% to 4.29%.
The changes take effect on 15 April and West Brom Building Society said they were among some of the more competitive products currently on the market.
Gareth Madeley, head of product at West Brom Building Society, said: “We’re really pleased to be making further reductions across our two-year fixed rate range.
“We keep a close eye on the market and work hard to keep our products as competitive as possible and that’s reflected in the changes we’ve announced today.”
He added: “We’ve been listening to broker feedback and always try to build on what we offer. These new rates should give even more choice to buyers and customers looking to remortgage.
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“Alongside our wider range, including shared ownership and new-build options, we’re proud to support customers at every stage of their homeownership journey.”
Nottingham BS cuts mortgage rates for foreign nationals
Nottingham Building Society has reduced rates across mortgages for foreign national borrowers by up to 0.1%.
This follows recent improvements to the range, including expanding visa acceptance to include global talent, pre-settlement, UK ancestry, British national overseas (BNO), Health and Care Worker, Skilled Worker, tier 2 – if granted before 1 December 2020 – and dependent visas for joint applicants.
Since launching its range for foreign national borrowers, Nottingham Building Society has received over £65m in applications.
Matt Kingston, sales director at Nottingham Building Society, said: “We’re proud to lead the way in specialist lending by offering more accessible solutions for customers who are often under-served by the mainstream. These latest rate reductions reflect our commitment to unlocking homeownership for people in complex or unique situations.
“Whether someone is new to the UK or returning after time abroad, our proposition is designed to meet them where they are – with flexible criteria, acceptance of overseas credit histories, and a truly human approach to underwriting.
“This is about more than rates. It’s about removing barriers and reshaping what’s possible for foreign national borrowers. So far, many of the customers we’ve been able to help have come to the UK on a Health and Care Worker Visa to provide invaluable support [for] our NHS and care sector.”
