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Leeds BS launches soft credit check for mortgage decisions in principle

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  • 23/01/2018
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Leeds BS launches soft credit check for mortgage decisions in principle
Leeds Building Society is to switch from hard to soft credit checks for mortgage decisions in principle.

The move helps borrowers avoid a detrimental credit mark in the provisional stages of their application, as a hard footprint will no longer be left on credit records.

More lenders have moved to soft credit checks in the early stages of a mortgage application, with Santander making the change at the end of last year while Yorkshire Building Society has promised to switch soon.

Martese Carton, Leeds Building Society’s head of intermediary distribution, said: “We’ve made this change to ensure a customer’s credit ratings aren’t affected during the early stages of their application.

“An applicant can see a search if they request their credit file but our check can’t be seen by other financial services providers and it won’t affect a customer’s ability to get credit elsewhere.”

Leeds said the change has been in response to broker and borrower feedback.

The lender has also recently launched tools to calculate lending affordability and monthly repayments to give a more accurate borrowing range and covers more types of lending.

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