The mutual entered into limited company buy-to-let lending in July and the changes announced today will offer “further support” for brokers with landlord clients operating within a limited company.
The range has been expanded to offer a choice of fixed rate periods and loan to value (LTV) tiers, and products with different fee structures and loan terms.
Products launched this week include its five-year fixed rate at 75 per cent LTV with a rate of 5.49 per cent and a £5,999 fee as well as another five-year fixed rate at 75 per cent LTV with no fee at 6.04 per cent.
Applications can be made through the mutual’s bespoke system, Mortgage Extra, to offer brokers full visibility of how each case is progressing.
It also has a new packaging checklist to simplify the application journey and a new limited company buy-to-let affordability calculator to streamline the process.
James O’Reilly, head of intermediary partnerships at Leeds Building Society, said: “Over recent years, we’ve seen more landlords opting to buy, own and let their properties through a limited company structure. As such, we want to be able to support our intermediary partners as they guide their clients in this changing market.
“Our broker partners trust us to offer specialist support and find the right solution for each case, and this move to ramp up service and support for limited companies will further streamline processes.”
He continued: “Our teams are on hand to guide brokers through the process, with tailored support via access to a specialist team of limited company buy-to-let underwriters for those with complex scenarios or who may be new to working with limited companies.”
