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Leeds BS cuts interest-only LTV to 50%

Leeds Building Society has cut its maximum loan-to-value for interest-only lending from 75% to 50%.

The changes take effect immediately. Last month, the building society cut its maximum LTV for interest-only loans where the repayment strategy is the sale of the property from 70% to 50%.

But these changes affect all borrowers, regardless of the repayment vehicle they have in place.

The changes do not affect the lender’s buy-to-let range.

Earlier this week, Skipton Building Society cut its maximum loan-to-value for interest-only lending from 75% to 60%.

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