The West Brom has brought out a number of new mortgages on a 10-year fix.
Available at up to 80% LTV and for purchase and remortgages, the new range features a remortgage with £999 fee and £250 cashback at 2.54% and a remortgage with zero fee and £500 cashback at 2.85%.
The latter comes with no early repayment charges after five years.
Additionally, a number of the new products come with an option to leave the fix after five years.
West Brom head of intermediaries Richard Scott says: “Following the recent increase of the base rate, there are concerns over inflation and how this may hit borrowers in 2022.
“We’re seeing a trend of borrowers wanting peace of mind on their monthly repayments for an extended period, beyond the current two-year and five-year fixed offerings.
“Adding 10-year fixed-rates to our current range provides further options for borrowers in the long-term mortgage market.
“Some of the products also include a break option once the borrower is five years into their fixed-rate mortgage term, where the borrower will not have to pay an early repayment charge, providing more flexibility for those who may want to switch at the half-way point.”
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