A building society will no longer lend for the purchase of holiday or second homes, saying they reduce the stock available for first time and other buyers.
The Leeds Building Society will still offer buy to let mortgages but – with immediate effect – is refusing loans for holiday or other additional properties.
Instead it says it will focus on other sectors, such as affordable housing and help for first-time buyers, to help fulfil its purpose to put home ownership within reach of more people.
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