The West Brom is offering up to £1,000 cashback with its latest 5-year fixed rate mortgage.
The mortgage, which has an interest rate of 5.34%, is available to buyers with a 5% deposit, and the building society will pay up to £1,000 cashback to the buyers’ solicitors with the loan amount on the day of completion.
The product launch came two months after the West Brom increased its maximum residential mortgage term to 40 years, up from 35, to help its customers make their monthly payments more manageable.
Gareth Madeley, head of product at the society, said: “Buying a house is expensive so we’re really pleased to be able to offer buyers with smaller deposits up to £1,000 cashback, to support with the costs of moving home.
“The cashback, a free first standard valuation and a competitive interest rate, will help to make buying a home more affordable for many.”
