Property News

Friday, February 09, 2007

Enhanced mortgages from Leeds building society

Leeds Building Society has made a number of enhancements to its lending criteria, including improvements on income multiples, buy to let and sub prime mortgages.

Key highlights include increased income multiples for both single and joint applications across all loan to values, while up to 100% of income received from state pension will now be accepted.
The maximum loan on 100% mortgages has increased to £250,000, while 100% mortgages are now accepted on an interest only basis and available to self employed clients. The maximum age at the end of the mortgage term has also increased from 75 years to 85 years.

The group has also announced the availability of easier buy to let criteria on verification of existing rental income and its ‘Fasttrack’ Further Advance facility. In addition to this, it has improved its guarantor and sub prime lending criteria.

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