Leeds BS makes interest-only changes
Leeds Building Society has cut its maximum LTV from 70 per cent to 50 per cent for interest-only loans where the repayment strategy is the sale of property.
Leeds currently accepts either a savings or investment vehicle as a repayment vehicle, or the sale of property.
It will still allow up to 75 per cent LTV for those using savings/investments as their repayment vehicle and any additional lending, above the 75 per cent LTV maximum, can be advanced on a capital and interest basis up to 85 per cent.
Its latest changes do not apply to buy-to-let loans.