West Brom lowers revert to rate for new customers

The West Brom has launched a new range of mortgage products that includes a revert to rate for new customers that is currently 2.35 per cent lower than its standard variable rate.

All of the new products in the range revert to bank base rate plus 3.49 per cent. Customers coming to the end of their term with the old product range would revert to the building society’s SVR, which is 5.84 per cent.

The most competitive product in the new range is a 2.59 per cent two-year fixed rate up to 60 per cent loan-to-value. It has a £1,895 application fee and a £99 booking fee.

The most competitive deal over five years is available at 3.64 per cent up to 75 per cent LTV, with a £99 booking fee and £899 application fee, and the most competitive tracker is a two-year product available at 2.64 per cent above base rate up to 75 per cent LTV, with a £99 booking fee and £1,995 application fee.

The society has also included a number of remortgage products with no completion fees, a free first standard valuation and free standard legal services.

West Brom divisional director for marketing and e-commerce Stephen Leonard says: “This launch represents a welcome return for the West Brom to the top of the best buy tables, delivering a really competitive range of mortgage products. Customers looking for low rates have a wide choice of fixed rate or tracker deals with us.”