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More borrowers will benefit from Leeds Building Society LTI change

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.”


Notes to Editors

Leeds Building Society won the awards for Best Building Society Savings Provider and Innovation in Personal Finance (Part and part mortgages) at the 2016 Moneyfacts Awards.

Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £15.9bn (at 31st December 2016). The Society’s head office has been based in the centre of Leeds since 1886.