West Brom Building Society has made changes to its fixed rate mortgage range, cutting rates and adding cashback.
Reductions of up to 0.45% have been applied to several existing mortgages and completion fees have been lowered by £700.
The West Brom also launched a 5-year fixed rate for purchasers at up to 65% LTV with £1,500 cashback payable upon completion. The rate is 2.19% and there are no fees and a free valuation is included.
Chris Yates, the West Brom’s senior product manager for mortgages, said: “Many borrowers appreciate the certainty that comes with a fixed rate mortgage and we are increasing the amount of choice available to them across two, three and five year terms.
“Where our proposition is particularly strong is in delivering true value for mortgage customers. Many of our products come with a comprehensive incentives package that helps to reduce the overall cost of borrowing for people buying a home or looking to remortgage to a better deal.”
Cashback payments of up to £1,500 are being offered within the range alongside free valuations and fees assisted legals for remortgage customers.
The society has cut its 5-year fixed rate mortgage at 75% loan-to-value from 2.39% to 1.94%.
It is for new purchasers or home movers, includes a free first standard valuation and has no booking or completion fee.