New mortgages could help first-time buyers borrow £52,000 more, says lender

Leeds Building Society is increasing the maximum that first-time buyers can potentially borrow as a multiple of their earnings, with the launch of a new mortgage range (Joe Giddens/PA) - (PA Archive)

A building society is increasing the maximum amount that first-time buyers can potentially borrow as a multiple of their earnings, with the launch of a new mortgage range.

Aspiring homeowners with a minimum household income of £40,000 may now be able to borrow up to 5.5 times their earnings, Leeds Building Society said.