Leeds BS now offers up to x4.75 LTI on their mortgage ranges.
Changes to reporting regulations stipulated by the PRA means that Leeds BS is now offering to lend at up to 4.75 times loan to income value on some of its mortgages.
This change to their lending criteria offers borrowers more flexibility to acquire the home that they really want. However, despite the relaxation in their terms, Leeds stress that they are a responsible lender and will only approve mortgage applications based on affordability.
Mortgage applications submitted to Leeds up until now were restricted to 4.5x the applicant’s monthly income. This was viewed as being restrictive and meant that some borrowers missed out on purchasing the property they wanted.
Leeds will now lend up to 4.75x LTI on mortgage products for up to 85% loan to value.
This higher LTI may be good news for some, but it may not be suitable for every borrower. Determining which product is right for you from the thousands there are available on the market today can be intimidating.
This is why securing the professional services of Deal Direct can really pay dividends. We are experts in the mortgage field and can offer you access to deals from across the whole of the UK.
Our team can guide you through all of the available options, advising you on your available choices and always acting in your best interests.
