West Brom Building Society has announced a series of mortgage rate reductions within its shared ownership range – reinforcing its commitment to supporting customers with smaller deposits.

The Society has made changes to its 2-year 95% LTV products. The first has been reduced by 0.26%, moving from 4.94% to 4.68%, while another 2-year option has been cut from 5.14% to 5.11% and now offers £500 cashback.

And it has also introduced a new three-year 90% LTV product at 4.69%, to help support more customers entering the 3-year market, whilst making it extremely competitive for borrowers with smaller deposits.

PURPOSE-LED LENDING

John Phillips, Product Manager at the West Brom, said: “Shared ownership is a core part of our purpose-led lending, and we remain committed to providing competitive products that make a real difference for customers.

“When we make changes to our products, we take onboard our broker feedback, which is important in helping us understand what works best for our customers.

 “With demand remaining strong among borrowers with smaller deposits, and by refining our shared ownership range, we’re making sure we can continue to meet that need whilst also responding to the wider market environment.

 “We’ll continue to review our product range to ensure it remains aligned with the needs of our customers.”