Leeds Building Society is giving its borrowers more time to decide on their remortgage options before their current deal comes to an end.
Existing mortgage members and mortgage intermediaries now can contact the Society up to six months before the product matures to switch to an alternative product.
Martese Carton (pictured), Leeds Building Society’s director of mortgage distribution, said: “We’re confident that this change will support borrowers and our intermediary partners as they consider the next steps when a mortgage product is coming to an end.
“Recent feedback has indicated that more borrowers are seeking to lock in sooner so they can have peace of mind and potentially fix their rate.
“Extending this period from three months to six will support our commitment to help existing mortgage customers to easily switch to a new rate when they reach the end of their term.
“The change will also give certainty and support borrowers to plan for ongoing cost of living price rises and the pressures that this brings.”
