The latest figures from The Council of Mortgage Lenders show that fixed rate mortgages accounted for 54% of all loans in August, which is the highest proportion ever since monthly records began in 1998.
With this in mind, Leeds Building Society has launched a new two year fixed rate mortgage from only 4.75% and a three year fixed rate from only 4.79%.
Jeff Kirk, corporate relationship manager says: “Continuing consumer uncertainty surrounding the impact of future bank base rate changes means that short term fixes are very popular.
“We are now offering two and three year fixed rates from only 4.75% and 4.79% respectively, which will prove extremely attractive to clients looking to remortgage or purchase.
“There is no higher lending charge up to 90 per cent loan to value and the products are fully portable, so if customers do wish to move within the fixed rate period, they can take the deal with them.
“We have also produced fee free versions for clients who prefer help with fees. These products, at only 5.25% for two years and 5.29% for three years, have no higher lending charge up to 90 per cent loan to value.
“They also offer a free valuation up to 335 and free in-house legal services for remortgages. Therefore, if a client is looking for a short term fixed rate, we have a highly competitive option to suit them.”