West Brom Building Society has reduced rates across its Shared Ownership mortgages and returned to the 3-year product market.
The society cut its 2-year 95% loan-to-value (LTV) product by 0.26%, from 4.94% to 4.68%.
Another 2-year option was reduced from 5.14% to 5.11% and now includes £500 cashback.
Additionally, a new 3-year 90% LTV product has also been introduced at 4.69%, aimed at supporting more borrowers with smaller deposits.
John Phillips, product manager at The West Brom, said: “Shared ownership is a core part of our purpose-led lending, and we remain committed to providing competitive products that make a real difference for customers.
“When we make changes to our products, we take onboard our broker feedback, which is important in helping us understand what works best for our customers.
“With demand remaining strong among borrowers with smaller deposits, and by refining our shared ownership range, we’re making sure we can continue to meet that need whilst also responding to the wider market environment.”
Phillips added: “We’ll continue to review our product range to ensure it remains aligned with the needs of our customers.”
