24 Feb

Boost in lending for houses for sale in 2011

Boost in lending for houses for sale in 2011

People looking to buy houses for sale in the UK could find it easier to secure a mortgage.

Leeds Building Society has announced plans to increase mortgage lending by 25 per cent in 2011 after a strong performance last year.

The building society plans to lend approximately £1.25 billion in the next 12 months, to provide more "capacity and choice" to the UK market.

Last year's lending was seven per cent higher than in 2009, totalling £984 million.

Ian Ward, chief executive at Leeds Building society, said: "Leeds Building Society has again delivered a very good set of financial results despite the continuing challenges for the financial services sector.

"We continue to adopt a prudent approach to lending."

Leeds Building Society recently announced a new savings product aimed at first-time buyers.

The Mortgage Saver account pays double the amount of interest as a standard savings product and will help people save to get onto the property ladder.ADNFCR-1222-ID-800426412-ADNFCR

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