Leeds enhances criteria

It has made improvements to income multiples, buy-to-let and non-conforming mortgages.

The key changes are:

• Increased income multiples for both single and joint applications across all loan-to-values
• Up to 100% of income received from State Pension will now be accepted
• Maximum loan on 100% mortgages increased to £250,000
• 100% mortgages now accepted on an interest only basis and available to self employed clients
• Maximum age at the end of the mortgage term is increased from 75 years to 85 years
• Easier buy-to-let criteria on verification of existing rental income and ‘Fasttrack’ Further Advance facility available
• Improved Guarantor criteria
• Enhancement of non-conforming lending criteria

Jeff Kirk, corporate relationship manager for Leeds, said: "We are committed to remaining competitive through both our policy and products and these changes to our lending criteria improve our market proposition. The initial feedback we have received is that these enhancements, and the improved income multipliers in particular, have made a real difference to intermediaries and their clients."