Leeds Building Society has announced that it will provide borrowers more time to decide on their remortgage options before their current deal comes to an end.

The change means that existing mortgage members and mortgage intermediaries will now be able to contact the society up to six months before the product matures to switch to an alternative product.

Leeds Building Society director of mortgage distribution Martese Carton says: “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 helping existing mortgage customers 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 the ongoing cost of living price rises and the pressures that this brings.”