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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More borrowers will benefit from Leeds Building Society LTI change

Leeds Building Society is adjusting its LTI (loan to income) criteria for some borrowers.

Regulatory changes by the Bank of England have given lenders more flexibility to cope with fluctuations in business volumes.

In future, they will be permitted to monitor and report their LTI ratios quarterly on a rolling 12-month basis, rather than by individual quarter.

The Society has responded to this change by confirming it will now lend up to 4.75x LTI for borrowers wanting to move home or remortgage, up to 85% LTV (loan to value).

“The changes agreed by the regulator will give lenders more flexibility in managing their business flows over a longer period,” said Martese Carton, Leeds Building Society’s Head of Intermediary Distribution.

“It’s good news for borrowers and brokers and we expect the changes will enable us to help more people have the home they want.

“As a responsible lender, we will continue to assess all mortgage applications on affordability.

“This prudent approach is supported by our decision to lend at higher LTI, with an LTV limit of 85%, to borrowers who already have a mortgage and can demonstrate previous payment history.”