Maximum loan sizes for higher loans-to-value have been increased on residential mortgages by Leeds Building Society.

The society has made the changes to ‘support more borrowers’, including first-time buyers (FTBs), as property prices continue to rise.

Maximum loans have now increased from £400,000 to £500,000 at 95% LTV, from £500,000 to £600,000 at 90% LTV and from £750,000 to £1m at 85% LTV.

The increases apply to standard and shared ownership (borrower share) mortgages.

Leeds Building Society senior mortgage manager Jonathan Thompson comments: “We’re always looking for ways we can support more borrowers. Rises in property prices affect all homebuyers but we’re mindful that FTBs and others with smaller deposits face a particular challenge to buy in some areas, such as London and the South East.

“We’ve responded by increasing our maximum loan sizes, as well as expanding our choice of higher LTV mortgages, while continuing to lend responsibly and sustainably to help to deliver on our purpose to put home ownership within reach of more people.”