This will apply to products at 90% and 95% loan to value (LTV), which the mutual said would benefit first-time buyers and homemovers.
Within the 90% LTV range, West Bromwich Building Society has reduced the rate of the two-year fix with a £999 fee by 0.24% to 4.5%; the corresponding fee-free product has been cut by 0.25% to 4.7%.
At 95% LTV, the product with a £999 fee has been reduced by 0.2% to 4.84%.
Aran Mann, product manager at West Brom Building Society, said: “We’re really pleased to be making further reductions across our two-year fixed range, especially for those with lower deposits, where borrowers often need the most support.
“We’re always keeping a close eye on what’s happening in the market and working hard to offer rates that are not only competitive, but also help support customers looking to take the first step towards owning their home. Feedback from brokers also plays a big role in shaping our products, and we’ll continue to evolve our offering to help give customers the best possible choice.”
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Clydesdale Bank makes rate cuts
Clydesdale Bank has announced rate reductions, available from 16 May.
Within its core residential mortgage range, selected two- and five-year fixed rates at 65-75% LTV will be cut by up to 0.15%.
Its two-year discount offset product at 80% LTV will be cut by 0.1%.
Across its exclusive offering, the two-year fix at 90% LTV for purchases will be reduced by 0.1%.
Meanwhile, two- and five-year fixed large loan rates at 65-75% will be lowered by as much as 0.15%.
The two- and five-year fixed residential remortgage exclusive rates will be reduced by as much as 0.2%, while residential existing borrower product transfer rates will go down by as much as 0.15%.
Reductions of up to 0.15% will be made to its large loan residential exclusives.
For professional borrowers, Clydesdale Bank will cut two- and five-year rates from 65% to 80% LTV by up to 0.25%.
