The latest figures from The Council of Mortgage Lenders show that fixed rate
mortgages accounted for 54 per cent of all loans in August, which is the highest proportion ever since monthly records began in 1998. Following this, Leeds Building Socety has launched two and three year fixed rate products.
Jeff Kirk, Corporate Relationship Manager said, "Continuing consumer uncertainty surrounding the impact of future bank base rate changes means that short term fixes are very popular. We are now offering 2 and 3-year fixed rates from only 4.75 per cent and 4.79 per cent respectively, which will prove extremely attractive to clients looking to remortgage or purchase.
"There is no higher lending charge up to 90 per cent loan to value and the products are fully portable, so if customers do wish to move within the fixed rate period, they can take the deal with them.
"We have also produced fee free versions for clients who prefer help with fees. These products, at only 5.25 per cent for 2 years and 5.29 per cent for 3 years, have no higher lending charge up to 90 per cent loan to value.
"They also offer a free valuation up to £335 and free in-house legal services for remortgages. Therefore, if a client is looking for a short term fixed rate, we have a highly competitive option to suit them."
