Leeds Building Society reaffirms commitment to FTBs

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Leeds Building Society reaffirms commitment to FTBs

First-time buyers will benefit from new plans at Leeds Building Society to increase mortgage lending, it has been claimed.

Ian Ward, chief executive at the company, made his comments after the firm announced it is set to increase lending levels by 40 per cent in 2011 to reach £1.4 billion.

He pointed out that first-time buyers may be able to sign up for a shared ownership deal, which requires just a 2.5 per cent deposit when a person is purchasing one-half of a property.

"We offer mortgages up to 95 per cent of the borrowers' share, so the deposit required is much smaller than a traditional mortgage," said Mr Ward.

The Leeds Building Society representative explained that people can gradually increase their ownership of their home in future years.

In support of Comic Relief, the lender undertook a number of fundraising events on Friday (March 18th), including The Keepy Uppy Badminton Challenge, which tested how long a team could hit a shuttlecock around without dropping it.

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