Leeds use FLS to increase new lending
The first published numbers for the Funding for Lending Scheme released this week by the Bank of England showed that net lending was only £498m, despite a total drawdown of over £4.3bn.
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Paul Riley, Group Treasurer at Leeds Building Society commented:
“When you look at the net lending numbers, we have contributed strongly. During the past 18 months, we have agreed new mortgages totalling £2bn, well above our natural market share, and we intend to continue to grow our business organically.
“Whilst it is early days for the scheme, we have strong lending aspirations and will use the FLS to drawdown more funding to support it. This means that we will be able to help first-time-buyers onto the housing ladder and even more borrowers achieve their goal of home ownership, which we see as an important contribution to supporting home ownership, the housing market and the wider economy.”
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