Leeds Building Society Intermediary: A Comprehensive Guide for Mortgage Brokers

Leeds Building Society is a prominent UK lender that collaborates exclusively with FCA-authorised intermediaries to offer mortgage products. If you’re a mortgage broker or part of an advisory firm, understanding how to work with Leeds Building Society is crucial. This guide delves into the intermediary model, registration processes, platforms, lending criteria, and tools available to brokers.

What Is a Leeds Building Society Intermediary?

An intermediary in the context of Leeds Building Society is a mortgage broker or advisory firm that is authorised by the Financial Conduct Authority (FCA). These intermediaries act as the primary channel through which customers access Leeds’ mortgage products. Leeds Building Society operates predominantly on an advised sales basis, meaning that intermediaries must assess clients’ needs and recommend suitable products accordingly.

Platforms for Intermediaries

Leeds Building Society provides two main platforms for intermediaries:

1. Mortgage Hub

• Purpose: Facilitates new residential lending, rate switches, and additional borrowing.
  
• Features:
  
  • Real-time case tracking.
    
  • Instant Decision in Principle (DIP) notifications.
    
  • Secure document uploads.
    
  • Integrated affordability calculators.
    
• Access: Intermediaries must register to use the platform. Registration Link
  

2. Mortgage Extra

• Purpose: Dedicated platform for Limited Company Buy-to-Let (LCBTL) applications.
  
• Features:
  
  • Tailored application processes for limited company structures.
    
  • Specific criteria and documentation requirements for LCBTL cases.
    
• Access: Separate registration is required for Mortgage Extra. Registration Link
  

Registration Process for Intermediaries

To begin working with Leeds Building Society, intermediaries must complete a registration process:

1. Initial Registration: Provide details such as FCA number, company information, and contact details.
   
2. Platform Access: Choose the appropriate platform (Mortgage Hub or Mortgage Extra) based on the types of products you intend to offer.
   
3. Training and Support: Leeds offers training resources and support to ensure intermediaries are well-equipped to use the platforms effectively.
   

For detailed instructions, visit the Registration Page.

Lending Criteria and Guidance

Leeds Building Society has specific lending criteria that intermediaries must adhere to:

• Loan-to-Value (LTV) Limits: Varies based on the product type and applicant profile.
  
• Affordability Assessments: Comprehensive evaluations considering income, outgoings, and credit history.
  
• Documentation Requirements: Includes proof of income, identification, and property details.
  
• Product-Specific Criteria: Different criteria for residential, Buy-to-Let, and Limited Company Buy-to-Let products.
  

For the most up-to-date criteria, refer to the Mortgage Lending Criteria and Guidance PDF.

Tools and Resources for Intermediaries

Leeds Building Society provides several tools to assist intermediaries:

• Affordability Calculator: Helps assess the borrower’s capacity to repay based on income and expenditure.
  
• Minimum Equity Finder: Assists in determining the minimum equity required for certain products.
  
• Application Forms: Downloadable forms for various mortgage products.
  
• Criteria Guides: Detailed documents outlining the eligibility and requirements for different products.
  

Access these resources on the Intermediary Tools Page.

Compliance and Regulatory Responsibilities

Intermediaries working with Leeds Building Society must:

• Adhere to FCA Regulations: Ensure all advice and recommendations comply with FCA guidelines.
  
• Maintain Records: Keep detailed records of client interactions and advice given.
  
• Provide Transparent Information: Clearly explain product features, costs, and risks to clients.
  
• Ensure Suitability: Recommend products that align with the client’s needs and financial situation.
  

Regular training and updates are provided to ensure intermediaries remain compliant with regulatory changes.

Recent Updates and Developments

Leeds Building Society continually enhances its offerings:

• Additional Borrowing Facility: Intermediaries can now offer additional borrowing to existing customers across a range of mortgage types through the Mortgage Hub platform. This streamlined process allows eligible clients to increase their borrowing without switching providers. Learn More
  
• Platform Enhancements: Improvements to the Mortgage Hub have been made to include both new residential lending and product transfer switches in one place, offering instant illustrations, comprehensive case tracking, simplified identification, and automated valuation models (AVMs). Details Here
  

Support and Contact Information

Leeds Building Society offers dedicated support for intermediaries:

• Helpdesk: For technical issues and platform-related queries.
  
• Broker Development Managers: For business development and product-related questions.
  
• Training Resources: Online tutorials, webinars, and documentation to assist intermediaries.
  

For contact details and further information, visit the Help and Contact Page.

Conclusion

Partnering with Leeds Building Society as an intermediary offers numerous benefits, including access to a wide range of mortgage products, dedicated support, and comprehensive tools to assist in the mortgage process. By understanding the registration process, lending criteria, and available resources, intermediaries can effectively serve their clients and grow their businesses.

If you’re an FCA-authorised intermediary looking to expand your product offerings, consider registering with Leeds Building Society today.

Note: The information provided in this guide is based on publicly available resources as of the current date. For the most up-to-date information, please refer to Leeds Building Society’s official intermediary website.