You are here: Home - First Time Buyers - News -

Leeds BS extends mortgage offer period

Written by:
Leeds Building Society mortgage offers will now be valid for six months rather than three.
Leeds BS extends mortgage offer period

The change has come following feedback from customers, brokers and developers that more time is needed to complete a mortgage application.

Martin Richardson, general manager of business development, said:

“Making the mortgage offer valid for longer will help borrowers who are buying a new property or buyers who may be stuck in the middle of a chain of transactions.

“There can be delays at any stage of buying a home, whether or not it’s a new build, and mortgage offer time limits can increase pressure on borrowers at an already stressful time.”

Richardson said that by doubling the length of time a Leeds mortgage is valid for the society hoped to take away this added pressure on borrowers and further streamline its offer process.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Sorry. No data so far.

Guide to borrowing past retirement age

As an older borrower, you may be concerned that a lender will not offer you a mortgage pas...

Mortgage market biased against homeowners

Buy-to-let property investors are unfairly favoured in the mortgage market, an independent...

Should buy-to-let investors ‘go Dutch’?

The Netherlands is revealed as Europe’s top buy-to-let property hotspot

Private sector tenants in poverty double in decade

The number of private rented sector tenants in poverty has doubled in the last decade from...

Large mortgage broker firm launches with fees of over 1%

An insurance firm has launched a mortgage advice service

Second steppers targeting detached properties

Those living in their first home are increasingly looking to reduce the steps to their lon...

Mortgage Calculators

Read previous post:
No rate rise till Autumn 2015

The Bank of England will keep the Base Rate of interest at 0.5% until at least 2015, according to accountants.