West Brom Building Society has announced a series of rate reductions across its shared ownership and core mortgage ranges, alongside a return to the shared ownership remortgage market.
The latest changes include a reduction of up to 0.65% on shared ownership products and re-introduced shared ownership remortgage options.
A two-year shared ownership purchase product at 95% LTV with no fee has reduced from 5.99% to 5.43%, while a two-year shared ownership remortgage product at 95% LTV launches at 5.60% with £250 cashback.
The West Brom has also made reductions within its core residential range. This includes a two-year 95% LTV purchase product with no fee, down from 5.40% to 5.35%.
John Philips, senior product manager at West Brom Building Society, said: “Our ongoing focus is to support customers in achieving their homeownership goals, particularly those with smaller deposits who may face greater affordability challenges. These latest shared ownership reductions are designed to make a meaningful difference, helping more people take that important first step.”
“We’re also pleased to be returning to the shared ownership remortgage market, ensuring existing customers have access to competitive options when reviewing their mortgage. Alongside this, reductions in our 95% LTV core range can have a real impact, and we’re proud to offer products that stand out strongly in a competitive market.”
