The organisation has applauded the Government for looking to help people get onto the housing ladder.

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  • Leeds Building Society has said it welcomes a move by the Government to get more first time buyers (FTBs) onto the property ladder.

    Peter Hill, chief executive of the organisation, said that there are a number of difficulties which new investors face and they need help in overcoming these.

    "We already support FTBs onto the housing ladder through a range of initiatives including shared ownership, shared equity and guarantor mortgages. New lending in the first half of the year increased by 61 per cent to £642m, which represents £275m above our market share," he stated.

    Hill went on to say that over £151m of completions made it possible for thousands of first time buyers to purchase a property, representing an 85 per cent increase on the same period last year.

    Earlier this week, the coalition Government announced a taxpayer-backed 95 per cent mortgage to make buying a property a reality for more people.ADNFCR-1100-ID-801221840-ADNFCR

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    Some information contained herein may have changed since it was first published. SmartNewHomes strongly advises you to seek current legal and/or financial advise from a qualified professional.

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