West Bromwich Building Society has reduced rates across its purchase and remortgage products by up to 0.13% as it seeks to sharpen its appeal to both new buyers and existing homeowners.

For purchasers, the Society has cut the cost of its two- and three-year products at 95% loan-to-value (LTV), both carrying a £999 fee, to 4.74% and 4.72% respectively.

Each represents a 0.05% reduction and places the lender’s high LTV deals among the most competitive in the market for borrowers with smaller deposits.

In addition, two new 85% LTV products have been introduced. A two-year fix at 4.45% comes with no fee, while a lower rate option at 4.25% carries a £999 fee.

REMORTGAGES

The Society has also trimmed rates in its remortgage range. Two-year fixes at 90% LTV have been reduced, with the fee-paying product down by 0.11% to 4.45% and the fee-free alternative lowered by 0.13% to 4.73%.

The changes are designed to keep the Society competitive among borrowers with less equity who are refinancing.

John Phillips, product manager at the West Brom, said the revisions reflect its intention to remain active in the market. “By reducing these rates and launching new products, we’re making sure our mortgage range stays competitive and supports customers at different stages of their journey,” he said.

“Whether that’s helping first-time buyers with smaller deposits or those looking to remortgage their property. We listen closely to feedback from our broker partners, which helps us shape products that really work for customers.”