West Brom Building Society has knocked down the rate on its five-year fixed mortgage by 0.10%, marking its territory in the Moneyfacts charts.
The mortgage is now priced at 2.99% until 31.10.19, after which it will revert to a variable rate of 3.99% for the remainder of the term. It is available up to 65% loan-to-value.
This mortgage is available for first-time buyers, second-time buyers and remortgagors. Fees total £599, comprising a booking fee of £199 and a completion fee of £400.
The option to make overpayments gives this mortgage welcome flexibility, although underpayments and payment holidays are not offered.
The rate reduction makes this mortgage highly competitive when compared with its rivals, especially when the low fee is taken into consideration. As a result, this mortgage is likely to be an appealing choice to borrowers with the right deposit.
The highest accolade of five Moneyfacts Stars has been awarded.
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