First-time Buyers

West Brom, Clydesdale and Yorkshire launch new products

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West Bromwich Building Society and Clydesdale and Yorkshire banks have launched new mortgage products.

The building society has cut several of its two and five-year fixes by up to 0.2%. New products launched include a five-year fix at 3.09% available up to 65% loan-to-value (LTV). A £199 booking fee and an £800 completion fee apply.

West Brom has also lowered the rate on its existing five-year fixed rate mortgage at 75% LTV from 3.59% to 3.39%.

Clydesdale and Yorkshire banks have launched a number of two and five-year fixes with a £500 cashback offer and no arrangement fee.

This includes a two-year fix at 4.29% and a five-year fix at 4.79%, both available up to 90% loan-to-value. At 85% LTV a two-year fix is on offer at 3.49% with a five-year equivalent on offer at 4.49%.

Steve Fletcher, head of retail network at Clydesdale and Yorkshire, said: “We understand that people have different needs so we have extended our range of mortgages to meet these varied demands.

David Taylor, West Brom’s head of products, said: “These changes improve our mortgage rates for customers looking to fix their repayments for up to five years. In particular there are options which should appeal to borrowers in the lower LTV brackets and those who want to remortgage to try and beat their existing deal.

“With a future change in Bank Base Rate looking ever more likely, fixing your mortgage now is something well worth considering so that monthly repayments remain the same.”