West Brom Building Society has unleashed a new two-year discounted variable rate mortgage onto the market, with its spectacular sub-1% rate earning it the top accolade in the process.
This mortgage has a market-leading variable rate of 0.99% (3.00% disc) until 30.11.17, the lowest rate in its sector. It is available at a loan-to-value (LTV) of 75% and has a fee of £999.
All borrowers with a 25% deposit are welcome to apply for this deal. Although there are no incentives available, borrowers do have the option to make overpayments by regular or lump sum.
This newcomer has certainly made its mark: boasting the lowest rate in its sector, it's shot straight to the top of the Moneyfacts charts, something that is sure to trigger interest among borrowers with the right deposit, while the fact that it also allows overpayments is another welcome bonus. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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