Leeds makes interest-only changes
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Leeds Building Society has cut its maximum LTV from 70% to 50%, 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% LTV for those using savings/investments as their repayment vehicle and any additional lending, above the 75% LTV maximum, can be advanced on a capital and interest basis up to 85%.
Its latest changes do not apply to buy-to-let loans.
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Readers' comments (3)
jools | 20 Feb 2012 4:57 pm
anyone left? (sale of property that is)
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Anonymous | 20 Feb 2012 10:28 pm
Sorry jools as part of Intensive and Intrusive reviews from fsa (which are in the process of being carried out with all lenders) things are just going to get worse. We will be lucky if IO remains
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john cena | 22 Feb 2012 11:13 am
jools - try aldermore. up to 80%
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