Leeds Building Society has announced changes to its buy-to-let lending criteria and processes in advance of the new PRA rules for portfolio landlords.
The building society has simplified criteria and improved processes for buy-to-let mortgages for both portfolio and single property applicants.
It has also created a dedicated webpage for intermediaries.
From 29th September, portfolio landlords will need to provide details of assets and liabilities, and declare future investment property intentions.
“We want to reassure our broker partners that we remain committed to supporting landlords and the buy-to-let market and have been preparing for some months to be ready for these changes,” said Jaedon Green, director of product and distribution at Leeds Building Society.
“Our aim is to make our buy-to-let proposition as straightforward as possible and ensure our service supports brokers and is user-friendly.
“We’ve refined our criteria since the start of this year and strengthened both our underwriting and intermediary teams, with extra specialised training to cover these latest changes.
“Now, by creating a dedicated portfolio buy-to-let page on our intermediary website – with a new declaration form and step-by-step guide for submitting portfolio business – we’re making the process as simple as we can.”
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