These comments come on the back of increases in the money market rates and an expected rise in the Bank of England Base Rate in November. This week has already seen major lenders re-pricing or withdrawing their fixed rate loans.
Said Tony, "Due to better than expected economic figures, it is almost certain that there will be a Base Rate increase in November and this, coupled with the increased cost of long term money will result in all lenders having to make their fixed rate deals significantly more expensive.
The UK has enjoyed a period of record low rates in the mortgage market and these days are numbered. We have seen some of the biggest names in the lending market increase their rates on loans over this period and customers should look around for the best deals and if they can, fix now.
Leeds & Holbeck still offers a 5-year deal at 4.99% with no lock-ins and I would urge customers to respond sooner rather than later in order to secure this deal."
For more information on the full range of mortgages on offer, customers should contact their local Leeds & Holbeck branch, call 08450 50 5062 or visit www.leeds-holbeck.co.uk
