New mortgage puts customers in driving seat

27 April 2004
Applying for a mortgage may well mean shelving plans to buy that brand new car; but now there really is a case of having your cake and eating it.

With today's launch of West Bromwich Building Society's new 'Brum Brum' mortgage, homeowners are able to sign up and receive a Rover 25 car in return.

Former England captain, Bryan Robson and the former WBC super middleweight boxing champion, Ritchie Woodhall, have a hand in the proceedings, helping to launch the product this morning.

The building society is working in conjunction with MG Rover, the UK's largest car manufacturer, to offer this revolutionary deal - which is open to first time buyers and those wishing to re-mortgage their property.

Spokesman, Stephen Karle, from West Bromwich Building Society, said, "For first time buyers it means they can now own both a new home and new car -something many could only dream about. It's also a great boost for MG Rover Group, the Midlands top car manufacturer supporting local industry and jobs."

The Brum Brum product offers a 5.99 per cent standard variable rate on mortgages between £90,000 and £500,000.

Borrowers can choose the three-door, hatchback's colour, but must pay an additional fee should they desire an upgrade to a higher specification Rover 25 car.