New mortgages could help first-time buyers borrow £52,000 more, says lender
A building society is increasing the maximum amount that first-time buyers can potentially borrow as a multiple of their earnings, with the launch of a new mortgage range. Aspiring homeowners with a minimum household income of £40,000 may now be able to borrow up to 5.5 times their earnings, Leeds Building Society said. Its previous maximum loan-to-income ratio was 5.25 for first-time buyers and 4.5 on its standard mortgage lending […]
