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Leeds BS to launch into limited company BTL

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  • 02/03/2020
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Leeds BS to launch into limited company BTL
Leeds Building Society will be expanding into the limited company buy-to-let space in the second quarter of 2020, Mortgage Solutions has learned.

 

A Leeds Building Society spokesperson said: “It’s one of several segments that are under consideration.

“We continue to evaluate new segments of the market and keep our lending proposition under review.” 

 

2020 growth 

The building society’s most recent financial results showed it had completed £3.5bn in gross mortgage lending last year.  

Although this was down on the society’s lending figure of £3.8bn in 2018, it said it was confident about business as its mortgage balance grew 6.1 per cent to £16.7bn surpassing the 3.1 per cent UK mortgage market growth documented by UK Finance. 

Leeds BS will also be introducing a mortgage hub this year with the aim of simplifying the application process for brokers and customers. 

Richard Fearon, CEO of Leeds Building Society said of the results: “Our successful business strategy includes a focus on product innovation, particularly for customer groups not well served by the wider market, supporting borrowers such as later life homeowners and first-time buyers.” 

 

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