The West Brom Building Society has increased its maximum loan size for a house purchase at 95% LTV up to £350,000.
The building society hopes the increase will appeal to first-time buyers (previous limit: £250,000).
Cashback of up to £1,500 is also being offered on selected deals — with no booking or completion fees — alongside a free, standard valuation by the building society.
A reduction in mortgage interest rates by up to 0.15% across the 95% LTV range has also been implemented, as well as the addition of a new three-year fixed rate at 3.14%.
Richard Scott, head of intermediaries at the West Brom BS (pictured above), said: “We recognise the importance of helping the next generation of homeowners to secure their first property and have proven experience in providing a choice of good value mortgage products.
“These changes should help to broaden the West Brom’s reach in this particular market segment.”
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