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Leeds BS extends mortgage offer period

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20/01/2014
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.

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