Leeds Building Society has increased maximum loan sizes for higher LTV (loan to value) residential mortgages to support more borrowers as property prices continue to rise.
From 20 April, maximum loan size will increase:
- At 95% LTV from £400,000 to £500,000
- At 90% LTV from £500,000 to £600,000
- At 85% LTV from £750,000 to £1 million
These new maximum loan sizes apply to standard and Shared Ownership (borrower share) residential mortgages.
“We’re always looking for ways we can support more borrowers, whether that’s through product innovation or responsiveness to market changes and customer and broker feedback,” said Jonathan Thompson, Senior Mortgage Manager at Leeds Building Society.
“Rises in property prices affect all homebuyers but we’re mindful that first time buyers and others with smaller deposits face a particular challenge to buy in some areas, such as London and the South East.
“We’ve responded by increasing our maximum loan sizes, as well as expanding our choice of higher LTV mortgages, while continuing to lend responsibly and sustainably to help to deliver on our purpose to put home ownership within reach of more people.”
Leave a Comment