Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

West Brom Building Society Cuts Two-Year Fixed Mortgage Rates

West Brom Building Society has reduced rates across its two-year fixed purchase mortgage range by up to 0.18%. The changes apply to products at both 90% and 95% loan to value (LTV), with new rates now available for customers.

At 90% LTV, the two-year fixed purchase mortgage with no fee has been lowered to 4.77%, down from 4.95%. The two-year fixed mortgage at 90% LTV with a £999 fee has been reduced to 4.64%, previously 4.73%.

For customers with a 5% deposit, the two-year fixed purchase product at 95% LTV with no fee has been reduced to 5.15%, down from 5.25%.

West Brom Building Society stated that these rate reductions are intended to enhance support for customers with smaller deposits, including first-time buyers and homemovers. The changes apply across all two-year purchase products.

These updates may be relevant for letting agents and inventory clerks working with clients who are first-time buyers or homemovers, as the new rates could impact affordability and demand in the UK property market.