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Leeds BS updates buy-to-let criteria

Leeds Building Society is changing its buy-to-let criteria to increase the maximum number of properties per borrower.

The society has increased the maximum permitted in a borrower’s buy-to-let portfolio from four to eight.

And in future the minimum salary required for buy-to-let borrowers will be £25,000.


Martin Richardson, general manager for business development at the Leeds, said: “We’re making these changes to bring us more closely in line with the rest of the industry.”

He said the buy-to-let sector is growing and is part of a normal mix of housing tenures, including private rentals.

“Many of our buy-to-let applicants are more experienced landlords so these changes will enable us to support more borrowers.”

Other criteria on buy-to-let mortgages remain unchanged. The Society will lend up to 70% LTV and rental income must be at least 125% of interest payable on the buy-to-let variable rate.


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