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Leeds BS extends broker mortgage affordability calculators

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  • 02/01/2018
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Leeds BS extends broker mortgage affordability calculators
Mutual Leeds Building Society has launched a new online lending affordability calculator and monthly repayment calculator.

“These latest refinements to both calculators are part of ongoing improvements to make our service as easy and straightforward as possible,” said Martese Carton, Leeds Building Society’s head of intermediary distribution.

“We work very hard to be responsive to feedback and have listened to intermediaries’ comments and the types of inquiries we regularly receive, which led to us extending the calculators’ functionality.”

She added that the improved affordability calculator gives a more accurate borrowing range and covers more types of lending, including buy to let, second properties and to self-employed borrowers.

Other work completed by Leeds on its intermediary lending proposition last year includes a dedicated portfolio landlord webpage and a lending into retirement tool.

 

Retention fees

On 5 December, Leeds began paying a retention procuration fee to the full broker market, following a successful phased roll out with Connells and LSL.

The fee is available across buy to let, shared ownership, and interest only products – where no additional borrowing, or change to term or repayment method is requested.

The mutual will pay a 0.20% fee for retained business, and the society continue to pay a full proc fee to brokers who help existing borrowers port their mortgages to a new property.

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