Leeds Building Society have announced a broker update, available below. The Leeds Building Society products are available through our direct to lender mortgage club so contact us to see how we help brokers like you across the UK.
View the latest products here or visit the Leeds Building Society website.
Announcement:
Leeds Building Society: Homeownership Hope for 30k Earners
- Chefs, farmers, and forklift truck drivers: the professions where homeownership is now within closer reach
- Workers on £30,000 could now borrow up to £165,000 for a first home
- Leeds Building Society highlights how its range of Income Plus mortgages could help aspiring homeowners overcome affordability barriers
New analysis of Office for National Statistics (ONS) earnings data has identified a range of professions where homeownership could be within closer reach, thanks to the enhanced borrowing potential available through Leeds Building Society’s Income Plus mortgage range.
The analysis highlights jobs with median annual salaries of around £30,000, the minimum income now required for a single applicant to access the Society’s enhanced borrowing proposition.
According to the latest ONS Annual Survey of Hours and Earnings, professions earning at or just above this level include chefs, farm workers, bank clerks, tyre fitters, estate agents, undertakers, forklift truck drivers, postal workers, roofers and graphic designers.
Income Plus is designed to help overcome one of the biggest barriers facing aspiring homeowners by offering higher income multiples to eligible borrowers, subject to standard affordability checks. Originally launched in late 2024, the proposition takes a more flexible view of affordability for creditworthy first-time buyers. By reducing the minimum income required to access borrowing above 5.5 times salary to £30,000, Leeds Building Society is extending support to more lower-income borrowers looking to get onto the property ladder.
Matt Bartle, Director of Mortgages and Savings at Leeds Building Society, said:
“For some aspiring homeowners, particularly those on lower and middle incomes, the dream of buying a home can feel increasingly out of reach. While many prospective buyers have the income to comfortably manage mortgage repayments, they may struggle to borrow enough to purchase a suitable property because rising house prices have outpaced wage growth.
“We believe creditworthy customers should not be prevented from taking that next step simply because traditional lending criteria do not always reflect their ability to sustain monthly repayments. By lowering the minimum income requirement for borrowers who may benefit from higher income multiples, we are helping more first-time buyers access the borrowing they need, while continuing to lend responsibly and sustainably.
“Supporting first-time buyers is vital to keeping the housing market moving. Giving more people a realistic route into homeownership can help unlock demand and create opportunities for those who are ready to buy but have previously felt priced out of the market.
“Our purpose is putting homes within reach of more people, generation after generation. Income Plus is a practical example of how lenders can innovate to support aspiring homeowners in everyday jobs who are ready to take their first step onto the ladder.”
REACTION FROM £30K EARNERS:
Aisha is a POSTAL WORKER from Hounslow, earning just over £30,000. She said:
“Getting onto the property ladder as a single applicant can be particularly challenging because everything depends on one income. I spent years saving for my deposit while paying rent and managing everyday living costs, so I knew I could afford mortgage repayments. That’s why I think it’s positive to see lenders supporting buyers with lower minimum income requirements and recognising that people on average salaries can still be responsible homeowners. This can help more hardworking people achieve the security and stability that comes with owning a home.”
Alicia, a CHEF from Birmingham, said:
“Becoming a homeowner is one of my biggest goals and I’m hoping to buy within the next year. Saving for a deposit has taken time, so it’s really positive to see lenders doing more to support people on modest incomes. For hardworking people like me, lower minimum income requirements can help make the dream of owning a home feel much more within reach.”
Dean is a ROOFER from Leeds. He hopes to get onto the property ladder soon. Dean said:
“Owning a home is something I’ve always wanted, but as a single applicant on a £30,000 salary, it can feel daunting.
“Saving for a deposit has been my biggest challenge, particularly because work can be seasonal and my income isn’t always the same each month. Sometimes the whole process feels overwhelming, especially when you’re trying to understand mortgages, legal costs and all the different financial terms that come with buying a home.
“That’s why I think it’s positive to see lenders considering lower income requirements to make homeownership more accessible. There are lots of hardworking people like me who have stable jobs and want a place of their own, but worry they won’t earn enough to qualify. Anything that helps break down those barriers and gives people a fairer chance of getting onto the property ladder can only be a good thing.”
Ana, a GRAPHIC DESIGNER from Folkestone, said:
“As someone who is self-employed and has bought a home on my own, I know how challenging it can be to get onto the property ladder, particularly when your income can vary from year to year. I was fortunate to buy my first home a decade ago when house prices were lower and I had been able to build up a deposit, but it’s much harder for aspiring homeowners today. That’s why I think it’s really positive to see lenders considering lower incomes and providing greater flexibility. People on ordinary salaries who work hard and manage their finances responsibly should have a fair opportunity to own a home, and initiatives like this can help make that possible for more first-time buyers.”
Our latest mortgage product update
We’re making some changes to our new lending and existing customer mortgage ranges. These changes affect new mortgage applications, new rate switch applications and new additional borrowing applications.
Key Product Updates – New Lending
- Selected Residential and Income Plus fixed rates reduced
- New Residential fixed rates introduced
Key Product Updates – Rate Switch
- Selected Residential fixed rates reduced
Key Product Updates – Additional Borrowing
- Selected Residential and Green Residential fixed rates reduced
Any applications on withdrawn products must be submitted by midnight on Thursday, 1 October 2026 – see our latest updates for details. You’ll be able to apply for any new products from the stated launch date.