West Brom reduces shared ownership and new build mortgage rates

West Brom Building Society is reducing rates across its shared ownership and new build mortgage products.

The Society is cutting rates by up to 0.25% across its shared ownership range. A three-year fixed rate at 95% LTV on the borrower share will fall from 5.40% to 5.15%. At 90% LTV borrower share, reductions include a cut from 4.86% to 4.69% for the fee-free product and from 4.50% to 4.36% for the fee-paying option.

In the Society's new build range, a two-year fixed rate at 90% LTV with a £999 fee is down from 4.69% to 4.41%, while the 95% LTV equivalent will fall from 5.05% to 4.94%. Meanwhile, a three-year fixed rate at 95% LTV with a smaller £499 fee has reduced from 5.12% to 4.95%.

Aran Mann, product manager at West Brom Building Society, said: “We’re pleased to be making positive changes to our shared ownership and new build mortgage ranges at a time when many customers are looking for extra support. These latest reductions reflect our ongoing commitment to providing great value and competitive options in key segments of the housing market.

“We’ve been listening carefully to feedback from our intermediary partners and customers and have responded with rates that we believe will really help people take that next step, whether they’re buying a new home or becoming homeowners for the first time.”