Welcome to Limited Company Buy to Let at Leeds Building Society. Find out more about our product range and explore your opportunities to do business with us. To submit new Limited Company Buy to Let applications you'll need to register for Mortgage Extra, the system supporting some of our newest offerings.
Specialist Limited Company Buy to Let underwriters to support your cases.
Newly established SPVs
We accept newly-established Special Purpose Vehicles (SPVs).
Non-director shareholders
Shareholders don’t need to be directors if they’re related to a director.
What is Mortgage Extra?
Mortgage Extra is Leeds Building Society’s bespoke application platform for Limited Company Buy to Let. You can find out how to register for Mortgage Extra on this page.
Mortgage Extra is our purpose-built system for placing business
Use your case dashboard to submit, track and manage applications
How to register for Mortgage Extra
To submit Limited Company Buy to Let applications, you’ll need to register for Mortgage Extra. To do this, simply follow the below steps:
Step 1
Select ‘Register for Mortgage Extra’ below, then ‘Request access’
If you’re not already signed up with Mortgage Hub, you'll need to register there first.
Step 2
Carefully read, then accept, our Terms and Conditions
You won't be able to continue registering unless you agree to these.
Step 3
Tell us if your firm is already registered with us, or if you need to register a new one
If you're already signed up with Mortgage Hub, your firm will likely be registered.
Step 4
Fill in the details on the form
You’ll need to provide details for both yourself and your firm.
Step 5
Confirm your email address using the email we’ve just sent you
Please wait a few minutes if you’ve not received this yet.
Step 6
Wait for your access to be granted
You'll receive an email within five working days to let you know your access to Mortgage Extra has been granted.
Traditional rental properties for Special Purpose Vehicles (SPVs) that have been created purely for the purpose of holding and letting residential property. This must be the only trading activity.
What we accept
One or more of the following Standard Industrial Classification (SIC) codes: 68100 / 7012 – Buying and selling of own real estate 68209 / 7020 – Other letting and operating of own or leased real estate 68320 / 7032 – Management of real estate on a fee or contract basis
Newly-established SPVs.
Up to four directors and shareholders.
A maximum LTV of 80%.
A minimum rental income of 125%.
Companies that are registered in England, Scotland or Wales.
Non-Portfolio and Portfolio Landlords.
What else you need to know
All directors and shareholders with at least 20% shares must be named on the application (the applicants).
Shareholders who have less than 20% shares don't need to be named on the application, but must be individuals who are related to the directors and shareholders on the application.
The applicants must have a minimum combined 75% shareholding and voting rights.
The applicants will need to provide a personal guarantee and obtain independent legal advice.
We'll take an all monies charge.
We won’t register a floating charge over the assets of the company.
Portfolio Landlord criteria applies where the company and its directors and shareholders own four or more mortgaged properties (including this application), either separately or in aggregate.
The applicants can only have one company financed to Leeds Building Society.
There are two conveyancing options available to your customers - joint representation and separate representation.
Joint representation: the same solicitor represents both your customer and Leeds Building Society
Separate representation: your customer and Leeds Building Society are represented by different solicitors
Joint representation conveyancing
If your customer chooses joint representation, they'll have to choose one of the solicitors
on our approved panel to represent both themselves and Leeds Building Society. As
a result, your customer will need to pay the relevant fee below.
The above fees are subject to VAT at the applicable rate.
Disbursements will be payable for relevant searches, registration costs, and Stamp
Duty Land Tax, as applicable.
Additional fees may be applicable according to the circumstances of the transaction
(which your customer can discuss directly with their chosen solicitor).
Separate representation conveyancing
Your customer can choose a different solicitor to represent themselves, but they'll need to select one from our approved panel to represent Leeds Building Society. We’ll instruct the solicitor chosen to act on our behalf, but your customer will need to instruct their own solicitor. They will also need to pay the fees for both solicitors. Your customer will need to pay the relevant fee below for Leeds Building Society’s representation.
The above fees are subject to VAT at the applicable rate.
Disbursements will be payable for relevant searches, registration costs, and Stamp Duty Land Tax, as applicable.
Additional fees may be applicable according to the circumstances of the transaction (which your customer can discuss directly with their chosen solicitor).
Limited Company Buy to Let Mortgage Processing - Current Service Standards
10/12/2024 at 09:40
Timescales are based on an average
Please note that these timescales are an average based on the last 7 working days.
