Homebuyers to get an extra three months on their mortgage deals
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Homebuyers get an extra three months on top of their mortgage deals
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Homebuyers who take out a mortgage with some of the country’s largest lenders will get an additional three months to the term of their deals.
Halifax this week extended the term of its mortgages for new buyers.
This is because many homeowners have struggled to complete purchases and property chains have fallen apart.
Longer deals: Halifax this week extended the term of its mortgages for new buyers. It’s because many homeowners struggle to complete purchases
For homebuyers securing a two-year fix, the extension would extend the term of a mortgage from 24 months to 27 months.
The move will help reduce delays in transferring or completing a purchase.
Lloyds Bank and Darlington Building Society have also extended their mortgage agreements by three months and Leeds Building Society have extended mortgage terms by one month.
a.cooke@dailymail.co.uk
