West Brom and Principality cut rates

Michael Lloyd

January 16, 2020

West Brom Building Society and Principality Building Society have both cut rates.

West Brom Building Society has reduced the rate on its 5-year fix available at 95% LTV for purchases.

Now priced at 2.89%, the product comes with a free valuation and no product fee.

The offering also allows for overpayments.

Rachel Springall, finance expert at Moneyfacts, said: “As a result, this package may appeal to borrowers who have the required 5% deposit and are aiming to keep their initial costs down.”

Principality Building Society has made various changes to selected fixed rates in its range, with its 3-year fixed deal reducing by 0.03%.

Available at a maximum 85% LTV for all borrower types, this mortgage comes with a free valuation for all borrowers and free legal fees for remortgage customers and allows for overpayments.

Springall added: “Now priced at 2.05%, the deal carries an incentive package and does not charge a product fee, which may attract borrowers looking to save on the upfront cost of their deal.

“All borrowers will receive a free valuation but remortgage customers will be offered a free legal fees incentive.

“The deal earns an outstanding Moneyfacts product rating in the process.”

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