Leeds Building Society has increased the maximum loan sizes available to those borrowing a high proportion of the property’s value.

It said it wants to support more borrowers ‘as property prices continue to rise’. The move will benefit anyone with a small deposit but is likely to particularly help first-time buyers.

Maximum loan sizes have increased:

• From £400,000 to £500,000 for those borrowing up to 95% LTV
• From £500,000 to £600,000 for those borrowing up to 90% LTV
• From £750,000 to £1 million for those borrowing up to 85% LTV.

“We’re always looking for ways we can support more borrowers, whether that’s through product innovation or responsiveness to market changes and customer and broker feedback,” said Jonathan Thompson, senior mortgage manager at Leeds Building Society.

“Rises in property prices affect all homebuyers but we’re mindful that first time buyers 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.”