New mortgage offer as people began to borrow again

Tuesday, October 4, 2005

New mortgage options are being added to the portfolio of Leeds Building Society, it has been announced.

The options are a two-year fixed rate mortgage with a rate of 4.75 per cent and a three-year option with a 4.79 per cent rate.

There will also be fee-free versions available, with slightly higher rates of 5.25 per cent and 5.29 per cent respectively.

"Continuing consumer uncertainty surrounding the impact of future bank base rate changes means that short term fixes are very popular," said Stuart Fearn, product development manager.

"We are now offering a two-year fixed until December 31st 2007 at only 4.75 per cent, which will prove extremely attractive to customers looking to remortgage or purchase."

The Bank of England has recently announced that the amount of money people are borrowing against their homes has begun to climb once again.

After a consistent fall for almost two years, figures released by the bank have highlighted a climb in equity withdrawal of almost £2 billion since the first three months of the year.