Leeds Building Society: Mortgage holders want to fix

Date:Friday 23rd October 2009
Author: Max Freedman

Leeds Building Society has claimed that many borrowers are looking for a fixed-rate mortgage deal due to the uncertain economic climate.

Kim Rebecchi, director of sales and marketing at the organisation, made her comments following the release of a new five-year fixed-rate mortgage at 5.75 per cent.

The deal is available at up to 85 per cent loan-to-value.

She noted that many people like to be able to budget for their monthly repayments and fixed-rate products allow them to do this.

Ms Rebecchi pointed out that this deal, which has no higher lending charge, may be of interest to people coming to the end of an existing fixed-term mortage.

"In these uncertain times, with historically low interest rates, we are seeing an increase in the number of customers looking to fix," she added.

This week, Leeds Building Society has also launched a range of offset mortgages with interest rates starting at 5.49 per cent.