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.