Back to January 2016

Leeds increases maximum LTV in Northern Ireland

Leeds Building Society has increased the maximum LTV (loan to value) lending on mortgages in Northern Ireland.

The Society has raised the maximum from 85% to 95%, bringing it in line with its lending in the rest of the United Kingdom.

“We keep our lending criteria under active review and are pleased to be able to make this change,” said Martin Richardson, Leeds Building Society’s Director of Business Development.

“It’s a positive step which will enable us to support more borrowers in Northern Ireland, particularly First Time Buyers.

“It’s also a clear indication of growing confidence and optimism in the improving economic situation in the Province.“

Late last year the Society increased lending on new build properties and now will lend up to 90% LTV on houses and up to 85% on flats.

Ends

Notes to Editors

Leeds Building Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year the Society has won this category, as well as the award for ‘Product Innovation (Lenders)’.

The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.7bn (as at 30th June 2015). The Society has operated from the centre of Leeds since 1886.