We’re increasing our LTVs on new build and standard mortgages
Leeds Building Society is supporting potential homeowners by increasing loan to value (LTV) on a number of residential mortgages for new build and standard properties.
We are committed to accepting suitable applications on a wide and varied range of new build cases, including those less well served by the wider market. When paired with the A/B EPC affordability boost that we offer, our lending criteria on new builds has never been stronger.
Our new criteria will support your end clients to purchase new build properties (houses and flats) and standard flats with a smaller deposit, which could support them into home ownership earlier than expected.
The new LTV bands are as follows:
New build
- New cases for standard residential new build houses for Max LTV increasing from 90% to 95%
- New cases for standard residential new build flats Max LTV increasing from 80% to 85%
Standard
- New cases for standard residential non-new build flats Max LTV increasing from 80% to 95%
Find out more about our new build service or see our full product range.
Martese Carton, Director of Mortgage Distribution for Leeds Building Society said: “We’re pleased to announce this increase in LTVs on our product offering, especially within the new build market. Building up a deposit is one of the biggest barriers to home ownership and offering higher LTV products as well as our A/B EPC affordability boost on new build properties develops greater flexibility for our borrowers.
Looking for new ways to support first time buyers is important to the Society, and this criteria change follows other propositions in support of new buyers, including our Reach Mortgages, Shared Ownership offering, and Experian Boost.
This website is for use by FCA authorised intermediaries only. If you are a customer please click here to visit our customer website.
Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let and Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including without limitation, the provision of adequate explanations.