8
Apr
New mortgages 'may benefit homeowners who want to budget'
Homeowners who are keen to budget may benefit from the launch of
new mortgages, it has been claimed.
Leeds Building Society has released new five-year fixed-rate
products, with interest beginning at 4.85 per cent.
According to general manager of marketing and business development
at the firm Martin Richardson, the offerings - which are available
on up to 80 per cent loan-to-value ratios - can help consumers
plan.
He said: "Many customers will 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."
Mr Richardson added that the deals are a good chance for people to
lock into low fixed payments before rates rise.
In a new development, the Bank of England's Monetary Policy
Committee has kept the base rate of interest at its current level
of 0.5 per cent - a decision that was widely predicted by
experts.
