Leeds Building Society increases procuration fees on Buy to Let
Leeds Building Society is increasing procuration fees on Buy to Let and holiday let mortgages through intermediaries with effect from today, Monday 15th September.
The Society will increase the fee from up to 0.37% to up to 0.5%, bringing it in line with similar fees on the market.
"We have been working very closely with our intermediary partners on how to develop the service and products we offer through them to support our appetite for growth," said Martin Richardson, Leeds Building Society's General Manager – Business Development.
"We have the funding and the capacity within our plans to continue to increase our lending on Buy to Let mortgages and are pleased to be able to make this change to our fee structure."
"Intermediaries are a key element of our growth strategy. We have been investing heavily in enlarging our team of Corporate Account and Regional Development Managers and our underwriting capacity as lending through brokers has risen."
Notes to Editors
To discuss a new case with one of our mortgage development team, mortgage introducers should go to www.leedsintroducer.co.uk to find details of their nearest Business Developer contact.
Leeds Building Society has won three awards for innovation so far this year, having been named 'Innovator of the Year' at the Moneywise Magazine Mortgage Awards 2014 for its Welcome Mortgage. This allows borrowers to pay 0% interest for the first few months of their term so they can free up cash to help them settle into their new home.
The Society also scooped the 'Mortgage Innovation Award' and was named 'Most Innovative Personal Finance Provider' at the Moneynet Personal Finance Awards 2014.
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.1bn (as at 30 June 2014). The Society has operated from the centre of Leeds since 1886.