Leeds announces commitment to current range of fixed rate mortgages

11-Dec-2006

Leeds Building Society has confirmed its commitment to its current range of fixed rate mortgages until December 15th, potentially offering reassurance to first time buyers.

First time buyers concerned about a rise in interest rates during the first few months of 2007 can be guaranteed of a number of mortgage products from Leeds, with an interest rate of less than five per cent.

However, Leeds has confirmed that their fixed-rate portfolio of mortgage products may change following a re-evaluation after December 15th.

"Many customers are worried about what will happen to their mortgage payments if, as some market commentators predict, the Bank of England increases [the] base rate early next year," said Karen Wint, head of marketing and public relations at Leeds Building Society.

"Fixed rate products protect people against that risk and provide peace of mind," she added.

To find out more about this mortgage, contact a good mortgage broker.

According to a recent quarterly report, published by the Bank of England, the number of homeowners having difficulty meeting their mortgage payments remains low at around 7.7 per cent.

Of the people finding it difficult to meet their mortgage payments each month, a large proportion have their problem compounded by unsecured debts in excess of £5,000, the Bank of England suggests.

For our first time buyers guide to buying a property click here.

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