Building Society mortgage offer targets incorporated ...

Leeds Building Society has launched a new range of Buy to Let mortgages for landlords operating as a limited company.

In addition to the new products, the Society has created a new bespoke application system for Limited Company Buy to Let and has expanded its specialist underwriting team to offer dedicated support.

The new range is intended to complement Leeds Building Society’s existing product offering for this sector.

“We’ve seen a definite trend over the past few years for more landlords to choose to buy, own and let their properties through a limited company structure, rather than as a private individual” says society spokesperson Martese Carton.

“Many of the regulatory and taxation changes affecting the private rented sector in the past decade were intended to drive more professionalism among landlords.

“We want to be able to support our intermediary partners as they seek to give their clients the best advice and efficient service in this changing market.

“Building on the Society’s ongoing technology platform upgrades, we’ve added ‘Mortgage Extra’, a bespoke new system to make the application process quick and simple, with a dashboard for brokers to easily view and track their cases’ progress.”

The new Limited Company range offers a choice of loan to value tiers, with two and five year fixed rate mortgages at 75 and 80 per cent LTV.

These include a five year fixed rate deal at 6.40 per cent up to 75 per cent LTV, with a £999 fee.

The new range comes with a choice of product fees, and lending criteria are aligned broadly to those in the market. The maximum loan term is 40 years and there is no maximum age.

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