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:
Mortgage Product Updates
We’re making some changes to our new lending and existing customer mortgage range. These changes affect new mortgage applications and new rate switch applications only.
Key Product Updates – New Lending
Residential, Interest Only and Retirement Interest Only 2 year end dates extended to October.
New Residential 2 year 75/85% LTV and 3 year 90/95% fixed rates launched.
New Buy to Let Stress Rate Calculation approach – See Additional tab for more information.
Key Product Updates – Existing Customer
Residential, Interest Only and Retirement Interest Only 2 year end dates extended to October.
Any applications on withdrawn products must be submitted by midnight Wednesday 26 July – see our latest updates for details.
Mortgage Product Updates
We have an important update following today’s mortgage product update email.
Key Product Updates
Earlier today we communicated some changes, however the Buy to Let stress rate changes will not take effect from 27th July 2023, all other product changes remain effective. Further news will follow on Buy to Let stress rate calculations.
Any applications on withdrawn products must be submitted by midnight Wednesday 26 July – see our latest updates for details.
Mortgage Product Updates
We’re making some changes to our new lending mortgage range. These changes affect new and existing mortgage applications.
Key Product Updates
New Buy to Let Stress Rate approach (effective from Friday 28 July):
<5 year Purchase and Capital Raising Remortgage stressed at Product Rate + 2% (Min 5.50%)
<5 year Like for Like Remortgage stressed at Product Rate(Min 5.00%)
>5 year terms stressed at Product Rate + 1% (Min 5.50%)