West Brom Building Society has reduced the rates on two of its fixed rate mortgages, one of which has stormed up the Moneyfacts charts to sit just behind the market-leader.
This five-year mortgage now has a very competitive rate of 3.18% fixed until 31.10.19. It is available at a loan-to-value (LTV) of 75% with a low fee of £599.
After the five-year fixed term expires, the rate reverts to 3.99% variable.
The mortgage is available to all borrowers with the necessary deposit, including remortgagors. Although there is no incentive package, borrowers are allowed to make overpayments, which offers some welcome payment flexibility.
This mortgage is an attractive offer and it sits right behind the market-leader for its sector. The competitive rate and low fee, combined with the option to make overpayments, are added benefits, which are sure to attract borrowers with the right deposit.
The highest accolade of five Moneyfacts Stars has been awarded.
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