Leeds BS launches additional borrowing proposition

Leeds Building Society has launched a new lending stream for clients who want to borrow more on their existing mortgage.

Now available to brokers on Mortgage Hub, the quick application process is powered by MSO and is available for clients who have a residential, buy-to-let, or shared ownership mortgage with Leeds Building Society. 

Additional borrowing can be accessed for home improvements, debt consolidation, shared ownership staircasing, and more.

Brokers will be able to assess a case before submitting by using the new additional borrowing affordability calculator.

The latest launch follows Leeds reducing rates across its residential mortgage range by up to 18bps last week.

Martese Carton, director of mortgage distribution at Leeds Building Society, said: “We’re excited to introduce additional borrowing for brokers via Mortgage Hub for the first time. It means brokers can now help clients with a Leeds Building Society mortgage who have a need for additional borrowing and potentially avoid the costly and time-consuming process of remortgaging with another lender.”