"These latest service improvements demonstrate our ongoing commitment to the new build sector and acknowledge new build purchases can often take longer to complete"
The Society says the change will particularly benefit buyers of new build homes, where completions can be delayed due to hold-ups in construction, as well as buyers temporarily stuck in a property chain.
The change has been made in response to borrower and broker feedback, and Leeds is also launching a dedicated new build helpline so brokers can receive a swifter reply to queries.
The helpline is currently undergoing a phased introduction with selected new build brokers before being rolled out more widely.
Coinciding with the latest improvements, Leeds is launching two new fixed rate deals specifically for new build with rates fixed for up to two and a half years, starting at 2.39% up to 85% LTV and 2.59% up to 90% LTV.
Martese Carton, Leeds Building Society’s head of intermediary distribution, commented: “These latest service improvements demonstrate our ongoing commitment to the new build sector and acknowledge new build purchases can often take longer to complete, particularly when buying a home off-plan.
“We continue to strengthen our new builid proposition for intermediaries, which is now led by our corporate account manager Clive Sandom, who has many years’ experience in this sector.
“Feedback from our borrowers and intermediary partners drives our service improvements and we’ve taken a number of steps in the past year to support new build.
“These include widening the range of warranties we accept, increasing LTV on new homes, introducing criteria to support modern methods of construction, and creating a dedicated new build underwriting team."
