Leeds residential lending up 20pc

Sam Cordon

August 6, 2013

Net residential lending also increased and was some 26% higher year on year at £4432m.

Peter Hill, chief executive of Leeds, said: “New loans rose to £921m, which continues our commitment to the mortgage market, following our strong performance throughout 2012.

“We have particular expertise in the first-time-buyer sector and 30% of our lending, over £280m of completions, has helped almost 3,000 members to purchase their first home.”

Hill added that Leeds also plans to further increase lending with the recent launch of its 0% mortgage range.

He said: “We intend to increase new lending further this year and recently launched our unique Welcome Mortgage range, which offers borrowers a combination of flexibility and certainty over a three or five year term.

“This range is available up to 90% LTV and members have the option of paying 0% on the first three or six months of their mortgage, with the remaining monthly payments at a fixed rate for up to three or five years.

“We believe this innovation will support many more FTBs onto the housing ladder and enable other borrowers to achieve their home ownership aspirations.

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