West Brom reduces shared ownership and new build rates

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

As part of the changes, the Society is reducing its 95% borrower share product to 5.24%, which comes with no fees.

Rates across the rest of the shared ownership range have also been reduced and end dates have been extended from June to September.

In its new-build range, two-year rates have reduced by up to 0.47% and now start from 4.77% for customers with a 10% deposit.

At 95% LTV, rates have been lowered to 5.54%. This product includes no fees and comes with £500 cashback. A new 90% LTV option has also been introduced at 5.28% with a £999 fee.

Aran Mann, product manager at West Brom Building Society, said: “We know buying your first home isn’t easy, especially in the current environment, so we’re doing what we can to make it more achievable. That’s why we’ve tailored our range of shared ownership and new build deals to give customers more support and more ways to make homeownership happen.

“These latest rate changes are about listening to brokers, keeping a close eye on the market, and making sure we’ve got competitive products that genuinely help customers into homeownership.”