West Brom cuts shared ownership rates by up to 0.12%

West Brom Building Society has reduced rates across its shared ownership mortgage range by up to 0.12%.

The Society has made reductions across its two, three and five-year fixed rate shared ownership purchase products at 95% LTV.

Its two-year fixed rate purchase mortgage at 95% LTV has decreased by 0.12% from 5.96% to 5.84%. Its three-year fixed rate purchase mortgage at 95% LTV is down by 0.10% to 5.78%, while the five-year fixed rate purchase mortgage at 95% LTV has lowered by 0.11% o 5.87%, all with no fees.

John Phillips, senior product manager at West Brom Building Society, said: "Shared ownership can provide a valuable stepping stone for customers who are ready to buy but may not yet be in a position to purchase a property outright. By reducing rates across our shared ownership range, we're making these products more competitive and helping more customers explore a realistic route into homeownership.

"As a mutual, our focus is always on supporting customers at different stages of their homeownership journey. We recognise that there is no one-size-fits-all approach to buying a home, which is why it's important that options such as shared ownership remain accessible and affordable. 

“These latest changes demonstrate our ongoing commitment to providing practical mortgage solutions that help more people achieve their housing aspirations."