Leek United has doubled the offer period on its mortgages from three months to six months.
Clare Beardmore, head of mortgage sales at the building society, said the increase gives homebuyers the reassurance of additional time to get their purchases 'over the line'.
Speaking about the change, which came into effect this month (June), she added "We listen carefully to all the feedback we get from brokers, and some told us that their clients would welcome the extra 'breathing space' of longer mortgage offers.
"Providing the best possible level of service for brokers is top of our priority list, which is why we have responded by increasing our offer period to six months."
This is just one of the ways Leek United is keen on helping people onto the property ladder.
Rachel Lummis, adviser at Xpress Mortgages, said: "It’s great news that Leek has listened to feedback and extended its offer period, something other lenders that issue three month offers should also consider.
“On many occasions, three months is just not long enough for clients to complete their transactions. Quite often a chain can break down or delays can occur that cause a completion date to go beyond that period and when this happens it is distressing and unsettling for all parties.
"If a broker needs to request an extension to the offer this causes further delays and more time and paperwork.”
aamina.zafar@ft.com
