Leek Building Society has announced changes to its lending policy, effective from 1 September 2025, aimed at broadening support for a wider range of borrower profiles.
Key changes include:
- No Minimum Income Requirement for Buy to Let applications
In a move to support more experienced landlords and investors, the Society has removed the minimum income requirement across all Buy to Let products with the exception of Family Regulated BTL enabling access to a broader range of applicants. - Reduction in Stress Testing Rates Across All Buy to Let Mortgages (Including Holiday Lets)
The Society has reduced its stress testing rates by aligning them more closely to each product’s pay rate providing brokers with greater affordability options for clients. - Enhanced Criteria for Self-Employed Company Directors
For directors with a shareholding of over 25%, Leek will now consider both salary and net profit when assessing income offering greater affordability for entrepreneurial borrowers. - Expanded Acceptance of Zero Hour Contracts
The Society has removed Loan-to-Value (LTV) restrictions for applicants on zero hour contracts with 2 years consistent earnings for expanded acceptance.This provides a more flexible and inclusive approach to assessing income stability across varying employment types.
Nikki Warren-Dean, Head of Intermediary Mortgage Team at Leek Building Society, said:“We’re committed to evolving our lending policies to meet the changing needs of brokers and their clients. These latest changes are a direct response to broker feedback and reflect our continued focus on being a flexible, accessible lender in a competitive market.”
These enhancements underline Leek’s ongoing dedication to supporting intermediaries with pragmatic underwriting and a common-sense approach to complex cases.
