The West Brom has launched a range of 80% loan-to-value (LTV) 10-year fixed rate products with several offering a break option at the five year mark to switch products without incurring any early repayment charges (ERCs).
The new products are available directly from the society and through intermediaries.
Notable deals include a 10-year fixed rate at 2.54 for remortgage with a £999 completion fee and £250 cashback. ERCs apply during the 10 year term.
And a 10-year fixed rate at 2.84% for remortgage with no completion fee, £500 cashback and no ERCs after five years.
Richard Scott, head of intermediaries at the West Brom, said: “Following the recent increase of the base rate, there are concerns over inflation and how this may hit borrowers in 2022.
“We’re seeing a trend of borrowers wanting peace of mind on their monthly repayments for an extended period, beyond the current two-year and five-year fixed offerings.
“Adding 10-year fixed-rates to our current range provides further options for borrowers in the long-term mortgage market. Some of the products also include a break option once the borrower is five years into their fixed-rate mortgage term, where the borrower will not have to pay an early repayment charge, providing more flexibility for those who may want to switch at the half-way point.”