West Brom reduces shared ownership rates and re-enters three-year market

West Brom Building Society has announced a series of mortgage rate reductions within its shared ownership range.

The Society has made changes to its two-year 95% LTV products. The first has been reduced by 0.26%, moving from 4.94% to 4.68%, while another two-year option has been cut from 5.14% to 5.11% and now offers £500 cashback.

In addition, the Society has introduced a new three-year 90% LTV product at 4.69%.

John Phillips, product manager at the West Brom, said: “Shared ownership is a core part of our purpose-led lending, and we remain committed to providing competitive products that make a real difference for customers. When we make changes to our products, we take onboard our broker feedback, which is important in helping us understand what works best for our customers. 

“With demand remaining strong among borrowers with smaller deposits, and by refining our shared ownership range, we’re making sure we can continue to meet that need whilst also responding to the wider market environment. 

“We’ll continue to review our product range to ensure it remains aligned with the needs of our customers.”