West Bromwich revises its standard variable mortgage rate.
West Bromwich BS's standard variable mortgage revision rate has been cut for new customers.
The lender has launched a new mortgage range which includes a lower SVR for any new borrowers.
Existing West Bromwich customers will not benefit from a reduced standard variable mortgage revision rate, and will continue to pay 5.84%. New customers on the other hand will have access to a rate which is 1.35% lower at 4.49%.
All newly released mortgage products will revert to a rate of 4.49% plus base.
As well as reducing its SVR for new customers, West Bromwich has also released a new 2 year fixed rate mortgage range.
Fixed rates are on offer from just 2.59%. For 60% loan to value a low rate of 2.59% is available, however fees are on the high side at £1,994. For 75% loan to value a 2 year tracker mortgage is available at 2.64%, but fees are even higher at £2,094.
Would-be buyers and existing home-owners looking for longer term security may perhaps be better off with a 5 year fixed term. For these customers West Bromwich offer a rate of 3.64% for 75% loan to value with a lower £998 fee.
Remortgage products have also been launched for various deposit and rate levels which are available fee free.
With the news of yet another lender having raised its standard variable mortgage rate, this new offer is better news for borrowers.
Whatever type of mortgage you are interested in call Deal Direct for advice and a free quote.
Contact one of our advisers today.
