West Brom BS comes up with a 2 year fixed best buy mortgage.
After reviewing its range, the West Brom has cut its 2 year fixed rate for 75% LTV to achieve a best buy mortgage slot.
A year ago a rate under 2% would not have been offered by a smaller lender, a year on after the release of cheap funding the smaller lenders are matching the big boys by releasing cheaper and cheaper deals.
Top slots on best buy tables are coveted and competed for by lenders, but often such deals come with a sting in the tail in the form of high deposits and high fees.
So is this the case for this latest 2 year fixed best buy mortgage offering?
For just 75% LTV the West Brom is offering a rate sub 2% at 1.89%. Fees are also set at a reasonable level too at £999.
After the 2 year fixed period mortgage-holders will revert to the lenders variable rate which is currently set at 3.99%. At this point it will of course be possible to re-mortgage to a more competitive rate if one is available.
This best buy mortgage does appear to be a good deal, but if you would like to make a comparison of ALL mortgages market wide call Deal Direct. We can compare all competitive offers on a like for like basis factoring rates, fees, deposit levels and mortgage incentives.
For a low rate offer all an adviser today on 0800 048 8828.
