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Leeds extends online facility to include BTL

Leeds Building Society has expanded its online facility and case tracking functionality to include buy to let mortgages.

The nedw service will now give introducers 24-hour access to instant mortgage decisions, KFIs and real time updates on their applications.

Leeds Building Society general manager sales Kim Rebecchi says: “Landlords already benefit from our simple buy-to-let underwriting criteria. All we require is proof of identity, a clean credit check and confirmation from a suitable letting agent that the rental income will cover 130 per cent of the interest only mortgage payment.

“The new online facility now enables introducers to submit a mortgage, receive an instant decision and verified KFI. The application is processed immediately and the new functionality also allows case tracking, so introducers can obtain an instant update on the mortgage at any time, 24-hours a day, 7 days a week.”


Aberdeen looks at merging funds

Aberdeen is looking to merge its 404.8m managed portfolio with its 128m multi-asset fund and has written to shareholders. The firm is also looking to transfer the 40.7m Aberdeen managed distribution fund it acquired from DWS into its Oeic umbrella.

Trustees get some leeway on age rules

Pension trustees look set to get more leeway on age discrimination rules following a move by the Department for Work and Pensions. The regulations have raised concerns among employers and trustees that they could be breaking the law and leave themselves open to legal action simply by making age-related contributions. Stakeholders successfully lobbied for a […]

‘Poor should not pay for the rich’

NPSS savers should not be forced to subsidise the rich by being herded into annuities, says IMA chief executive Richard Saunders. Speaking at the Money Marketing/Cicero pension summit in London last week, Saunders argued that low-income NPSS savers with lower life expectancy will end up paying for the retirement incomes of the rich if pushed […]

This week in Mortgages

The payment protection insurance market took a battering this week, and the MPPI sector was not spared its share of abuse.

Solving the income puzzle

There is a puzzle at the centre of financial markets. The global economy is growing, there are signs of inflation and interest rates are going up, yet yields remain low. In this article, James Foster, manager of the Artemis Monthly Distribution fund, unpicks this conundrum and looks at where investors can find income. There is […]


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