In This Article
Who are The West Brom?
The West Brom building society was founded in 1849. It is a mutual building society owned by its members. The society has its headquarters in West Bromwich, in the West Midlands region of England.
The West Brom is one of the largest building societies in the UK. The company offers various financial services, including savings accounts, mortgages, and loans.
They offer their mortgages to their members directly or via mortgage advisors via The West Brom for Intermediaries.
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What mortgages do The West Brom specialise in?
The West Brom aims to understand that each customer has unique circumstances, offering various solutions to ensure their customers get the best possible residential mortgage.
The West Brom residential mortgages
They offer a range of residential mortgages for first-time buyers, those looking to remortgage, home movers and second home owners, or those already members of the building society.
The West Brom aims to help first-time buyers get on the property ladder with products such as:
- Low deposit mortgages
- Assisted mortgages (Joint Borrower Sole Proprietor)
- Help to buy remortgage (Repay or retain equity share)
- Up to 100% of regular overtime & commission can be considered
The Building Society tries to help other members with products such as:
- Interest-only mortgages with repayment being the sale of property
- Higher borrowing for remortgages
- Self-build mortgages
Are The West Brom building society rates competitive?
The building society offers fixed and variable rate mortgages to its members.
The West Brom’s residential mortgage rates are designed to be competitive. However, as with any mortgage, it’s important to compare interest rates, fees and the quality of the lender’s service before making a decision.
If you are considering a mortgage with them, speak to a mortgage advisor who can help you compare all of your options.
Can I remortgage my loan with The West Brom?
You will need to speak to The West Brom if you are already a customer. You may be able to remortgage via a product transfer with them directly or via a mortgage advisor.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.
How long does it take to get a financial offer with The West Brom?
The West Brom’ average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals.
I’ve been declined by The West Brom; what do I do now?
If you’ve been declined a mortgage from The West Brom, a mortgage advisor may still be able to help you find a lender willing to give you a mortgage. If you want more details about your credit history, you can go to Check My File to sign up for a free trial.
A mortgage advisor may be able to help you find a lender, regardless of your financial situation.
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Conclusion
The West Brom building society is a mutual building society founded in 1849 and is owned by its members.
It is one of the largest building societies in the UK. It offers its members a range of residential mortgages, including first-time buyers, those looking to remortgage, home movers and second home owners.
The West Brom offers fixed and variable rate mortgages and is accessible directly or via mortgage advisors.
If you’ve been declined a mortgage from The West Brom, a mortgage advisor may be able to still help you.
Complete the contact box below, and I NEED ADVICE to match you with a mortgage advisor who can review the whole market and recommend the right mortgage.
They are experienced, which can boost your chances of being approved.
