Please note: Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

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Update to the Society’s affordability calculator

The Society changed the way mortgage applications were assessed, from Income Multiples to an ‘Affordability’ approach, in April, 2012.

Further enhancements have since been made. These are designed to incorporate other Credit Risk factors into the calculation, these being the application credit score and loan to value that will differentiate further the maximum borrowing amount based on the risks applicable.

The on-line calculator will now provide a minimum and maximum borrowing range. The actual maximum borrowing amount will not be available until a decision in principle has been made.

To get the best results from the model and for the most accurate maximum borrowing amount to be provided it is imperative that the customer, loan and property information is input accurately into the system (LTV, income, commitments, other significant outgoings and household composition).