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, strengthening its support for customers with smaller deposits.
The latest changes include a reduction of up to 0.65% on Shared Ownership products, improving access for borrowers looking to step onto or move within the property ladder. The Society has also reintroduced Shared Ownership remortgage options, expanding choice for existing customers seeking competitive refinancing solutions.
The repricing delivers notable improvements across higher loan to value tiers. This includes a two-year Shared Ownership 95% LTV purchase product with no fee, reduced from 5.99% to 5.43%, as well as the launch of a two-year Shared Ownership remortgage 95% LTV no fee product at 5.60% with £250 cashback.
The West Brom has also made reductions within its core residential range, enhancing its competitiveness in the high LTV space. This includes a two-year 95% LTV purchase product with no fee, cut from 5.40% to 5.35%, positioning it strongly as a best buy option for borrowers with small deposits.
By reducing rates across both Shared Ownership and core offerings, the Society aims to provide greater value and choice to customers navigating a challenging affordability environment.
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.”
