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Leeds Building Society recruits new build specialist

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  • 09/02/2015
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Leeds Building Society recruits new build specialist
A corporate account manager with specialist experience in the new build market has joined Leeds Building Society’s intermediary team from Legal & General.

James O’Reilly worked in general insurance and protection in his previous role at L&G after spending time at HBOS and Lloyds in product management and key account management for BM Solutions.

He also worked on a number of large projects which shaped Lloyds’ presence in the intermediary market.

O’Reilly’s appointment will see him look after specialist new build intermediaries and developers.

The building society’s intermediary team has tripled in size in the past 12 months with underwriting capacity also increased.

Head of corporate accounts Louisa Sedgwick said: “New build is a growing market for us, where we have strong expertise and experience, and we’ve been working closely with our broker partners and major housebuilders to develop products tailored to this market, such as bespoke versions of our Help to Buy home loans and our award-winning Welcome Mortgage.

“We’ve also reviewed and refined lending criteria to smooth the application process and help more brokers and their clients.”

Leeds simplified its policy on builder cash incentives to accept up to a maximum of 5% of the purchase price or valuation as a gifted deposit from the developer, a move which brought in into line with the major new build competitors on the high street.

In November last year, the society said it would begin lending on properties restricted by s106 agreements, typically placed on the title deeds of new build homes.

Earlier this month, Santander announced a new range of intermediary exclusive fixed rates for new-build buyers with extended completion deadlines.

 

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