West Brom enters Help to Buy remortgage market

West Bromwich Building Society has launched a range of remortgage products for customers who purchased their home under the Help to Buy: Equity Loan scheme.

Related topics:  Mortgages
Rozi Jones
10th July 2018
The west Brom 2
"The options for Help to Buy customers looking to remortgage are currently fairly limited with not that many providers catering for their specific needs."

The range includes two, three and five-year fixed rate products available up to 75% LTV with a free valuation and £500 cashback.

Rates start from 2.29% for a two-year fix with a £999 fee or 2.54% fee-free. Three-year fixes start from 2.54% and five-year fixes from 2.74%.

Richard Scott, the West Brom’s head of intermediaries, said: “It has been five years since Help to Buy was first introduced. This means many borrowers are facing important decisions regarding both their equity loan, which now becomes interest bearing, and their original mortgage deal.

“The West Brom has a proven commitment to helping people secure a property of their own. Entering the remortgage market for Help to Buy will enable us to broaden our appeal to an increasing number of borrowers.

“The options for Help to Buy customers looking to remortgage are currently fairly limited with not that many providers catering for their specific needs.

“We are stepping forward with a strong product offering and adding some additional competition to this market segment, which can only be a good thing from the customer’s perspective and for intermediaries looking to provide guidance for their clients.”

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