West Brom Building Society has launched two new five-year fixed mortgage products offering £2,000 cashback to customers purchasing a home.

The new deals are available to first-time buyers and home movers at 90% and 95% loan-to-value, with pricing set at 4.96% for the 90% LTV option and 5.09% at 95% LTV.

The cashback launch forms part of a wider round of pricing changes across the Society’s residential mortgage range.

West Brom has reduced rates for first-time buyer and home mover products spanning two-year, three-year and five-year fixed terms.

As part of the changes, the two-year fixed rate at 95% LTV is now priced at 4.62% with no fee, following a reduction of 0.18%.

The Society said the revised range is intended to strengthen its competitiveness while improving overall value for homebuyers navigating a market characterised by elevated upfront costs.

John Phillips, product manager at the West Brom, said: “We understand that our customers’ needs are always evolving.

“People must face a number of upfront costs when buying a home, so the launch of our £2,000 cashback products help borrowers deal with the burden.

“These changes represent our commitment to helping people into home ownership.”