The Times - We’re not offering mortgages for second homes, says Leeds Building Society
Leeds Building Society has become the first big mortgage lender to say it will no longer lend to those buying second homes, as its chief executive said they put home ownership out of reach for first-time buyers.
Richard Fearon, Leeds’s chief executive, told The Times: “We don’t believe support for second homes is compatible with our purpose to put home ownership within reach of more people. Second homes reduce the number of properties available for people to live in, at a time when there’s a consensus housing supply is inadequate to meet demand.”
Trinity Financial explained that other high street lenders, including Barclays, Halifax, HSBC, NatWest, Nationwide, Santander, TSB and Virgin Money, are all happy to lend on additional properties.
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