25 Aug

Increase in customers 'looking to fix'

Increase in customers 'looking to fix'

The uncertain economic climate and historically low interest rates have resulted in an increase in the number of customers looking for fixed rate mortgages, according to one property expert.

Kim Rebecchi, director of sales and marketing at Leeds Building Society, said that the rise in homeowners looking to "fix" means that many mortgage holders would welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage customers who may be coming to the end of their current deal.

Her comments follow the building society's launch of a new five-year fixed-rate mortgage, which is available at loan-to-value ratios of up to 85 per cent .

"These products deliver peace of mind and security, over a large part of a typical mortgage life, at a very affordable rate," stated Ms Rebecchi.

The news comes after personal finance information provider Moneynet reported recently that 39 fixed-rate mortgage deals of ten years or more are currently available, compared to 137 a year ago.


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