The option is available to brokers on the Leeds Building Society Mortgage Hub, its application platform. Additional borrowing will be available to people with a residential, buy-to-let (BTL), or shared ownership mortgage with the mutual.
Additional borrowing can be used for home improvements, debt consolidation and shared ownership staircasing. Brokers will be able to assess a case before submitting an application with the mutual’s additional borrowing affordability calculator.
Martese Carton (pictured), director of mortgage distribution at Leeds Building Society, said: “We’re excited to introduce additional borrowing for brokers via Mortgage Hub for the first time.
“It means brokers can now help clients with a Leeds Building Society mortgage who have a need for additional borrowing and potentially avoid the costly and time-consuming process of remortgaging with another lender.”
Earlier this month, the mutual lowered selected rates in the wake of the base rate cut.
Welcome to the future: how collaboration is driving the shift to digital home buying
Sponsored by Halifax Intermediaries
