Open Banking at Leeds Building Society
Leeds Building Society are introducing Open Banking to help streamline how they assess cases and support more consistent, efficient lending decisions, so what does this mean for you?
Why brokers are paying attention
Open Banking is becoming an increasingly useful tool in the mortgage process.
With explicit client consent, it provides a secure view of account activity, helping to evidence income, assess affordability and understand spending patterns. It doesn’t replace your process, but it does support the lenders, helping them review cases more efficiently and with greater consistency.
What this means in practice
Open Banking can help to:
Reduce back-and-forth during underwriting
Support quicker assessment of income and expenditure
Improve accuracy and consistency of affordability checks
Strengthen fraud prevention through verified data
Open Banking allows us to gather the information we need directly — helping to move cases forward smoothly.