Leeds Building Society is launching a new two-year fixed mortgage at a competitive rate of 1.74 per cent.
The offer is available up to 65 per cent loan-to-value and also includes a free standard valuation up to £560 and fees assisted legal services for standard remortgages.
“Two-year fixed rate mortgages remain extremely popular with borrowers as they offer a degree of certainty about their monthly repayments in the short term.
“The current low interest rate environment is expected to be with us for perhaps 12 more months at least, which makes fixing your mortgage attractive while deals are so competitive,” Martin Richardson, general manager of business development at LBS, says.
There also may be some other factors influencing customers decisions currently, according to Richardson.
“However, uncertainty ahead of the forthcoming General Election – combined with financial and political instability elsewhere, particularly in Europe – may be making borrowers choose shorter-term fixes as they’re less willing to commit too far ahead into the future,” he comments.
