25
Aug
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.
