13/08/2010 Important Change to Self-employed Criteria

The income multiplier will be applied to the average of the last 3 years’ net profit figure, or other income provided, only if a steady progression in turnover and profit is reflected.

3 Years’ Accounts Not Available

If 3 years’ accounts are not available due to the length of trading, then the average of 2 years’ net profit figure, plus a satisfactory projection or Accountants Certificate showing this information may be acceptable. In such cases, 100% of the projection will be taken into account, provided the accounts reflect an improving position.

Cases where the LTV does not exceed 80% and only 1 full year’s accounts are available may be considered. The average of the 1 years’ net profit figure after tax, and up to 100% of the projection may acceptable, providing that the accounts reflect an improving position. These cases should be submitted to Head Office for preliminary consideration with full supporting accounts. The LTV in these cases will be limited to 80%.

The change to criteria will take effect from Monday 16th August pipeline cases will be accepted under the old criteria providing the full application is received by MLD on Friday 20th August 2010.

10/08/2010 10 Digit Customer Number

Following the recent security changes you will be asked to input a 10 digit customer number when logging in. However your 7 digit customer number will still allow you to access the system so you should continue to use this number.

27/07/2010 Increased Security Improvements

As part of our ongoing improvements to our e-commerce facility, we are introducing some changes to increase security. These will be introduced in the next few weeks.

Once the changes are implemented the way you sign in will include additional security questions.

If we need to update the information we hold about you we will contact you separately otherwise you can continue to use the system and follow the on screen prompts.

16/07/2010 New Self Build Mortgage Product

Leeds Building Society have launched a new Self Build mortgage, please contact your Intermediary Account manager for full details.
Find your nearest Intermediary account manager »

29/04/2010 Guidance re Self Employed Applicants

For self-employed applicants demonstrating a reduction or fluctuation in net profits over the last 3 years (i.e. anything other than an improving position) an explanation must be provided in the additional information section so that the application can be fully assessed by an underwriter.

22/02/2010 Changes to the Lending Criteria

The Residential Lending Guide has been updated to provide further clarification in a number of areas. Details of the changes >>

04/02/2010 Changes to the Interest Only Lending Criteria

Some changes have been made to the interest only lending criteria, which is detailed in section 18 of the Residential Lending Guide. Details of the changes >>

18/11/2009 Service Improvements

There have been recent improvements made in the Lending Department, which change the way your mortgage application will be dealt with.  Mortgage cases will now be allocated to underwriters based on an alphabetical split.  The teams are split A-D - E-K - L-R - Q-Z.  Each team will deal with all aspects of your application from start to finish, which will increase our already high level of service.

If you wish to send documents to us, please either reply to a message from Secure Communications sent from the Lending Department or send us a fax on (0113) 225 7739.

If you are experiencing problems from Secure Communication please contact Intermediary Support on (01543) 415 266.

Alternatively, If you would like to speak to someone about your mortgage application, please contact us on (0113) 225 7889.

25/08/2009 Ft Adviser - Online Service awards - 5* Star winner

The Society was the proud recipient of a prestigious 5 star award - Mortgage Provider & Packager in the FT Adviser Online Service Awards 2009. The award is the result of nominations from IFA's who rate providers from 1* for poor service all the way up to 5* for those providing Excellent service. The award includes performance in areas such as website design / functionality, ease of processing, online tools and information, reliability, business support and personal contact.

13/08/2009 Changes to Residential Lending Criteria - Further Advances

From the 14th August the following changes have been made to the Further Advance Lending Criteria

• In all instances of a further advance application, income must now be verified, (the latest three months payslips for all those on the mortgage will be needed as verification of income or the financial accounts as outlined in section 5 of the Lending Guide for self-employed applicants). To ensure a smooth and speedy process, please remember it is vital to send a correctly packaged full application in all instances.


• Self-certification, sub-prime and right to buy further advance applications are to be restricted to essential property repairs / improvements (copies of estimates are required).


• Shared ownership further advances are to be restricted to the purchase of an additional share of the property and essential property repairs / improvements (copies of estimates are required).

22/07/2009 Temporary Withdrawal of Self Build Variable Rate

With effect from the close of business on Wednesday, 22 July 2009, Leeds Building Society will temporarily no longer be accepting Self Build mortgage applications.

14/07/2009 Changes to Shared Ownership Criteria

With immediate effect the maximum "Borrower Share" for Shared Ownership applications is 80%. Please click on the following link for details of the current range. Details of changes >>

23/06/2009 Changes to Spanish Lending Criteria

With immediate effect, Leeds Building Society has made changes to the Spanish Lending Criteria. Details of changes >>

17/06/2009 Application Submission Requirements

Leeds Building Society has compiled a document to explain our requirements for the submission of correctly packaged applications. By sending the relevant documentation to us with your application, this will help to speed up the processing and ensure an offer is issued as soon as possible.  Details of our submission requirements (PDF) >>

08/06/2009 Great News - Pay All Fees Online

We are pleased to advise that payment for fees due when submitting a mortgage application to Leeds Building Society can now be paid online at the time of mortgage submission. Read More >>

03/06/2009 Clarification of Residential Mortgage Lending Policy

The Residential Mortgage Lending Policy has been clarified (sections 6 & 7) in respect of deriving the appropriate income multiples and level of income verification for shared ownership and shared equity applications. View Lending Policy PDF >>

14/04/2009 Good News On Buy to Lets

We no longer require a letter from an independent letting agent or assured short hold tenancy agreement for proof of rental income for a buy to let application that you submit to us. Leeds Building Society will now obtain this information on your behalf from the valuer as part of our service. Please note, we may still ask for information regarding other buy to lets the customer may have in their portfolio.

03/04/2009 Payment of Application & Valuation Fees

A number of our mortgage products now require an application / booking fee to be paid up front, before we will assess the application. We also require the valuation fee to be paid in full, where appropriate, before a valuation can be instructed.
Read More >>

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