Leeds Building Society Mortgage Lender Review
A detailed review of one of the UK's best-known mortgage lenders
UK's 15th largest lender
Leeds lent just under £4bn in 2018. That's almost 1.5% of all mortgage lending.
19-day submission time
That's 3 days longer than the average of 25 lenders we measured.
Borrow 4.75 x your income
You could borrow up to this amount if you meet the lender's requirements.
About Leeds Building Society
Leeds Building Society has been providing customers with mortgages for many years now. Despite their name, they have branches across the UK can be found everywhere from Aberdeen to York. They offer a weekday service from 9 am until 6 pm and are also available between 9 am and 2 pm on Saturdays.
With over 140 years of experience, Leeds Building Society has a huge pool of talent and knowledge to draw on when helping you to secure your mortgage. In 2018 alone they were able to complete almost 50,000 mortgages, offering their customers a huge range of 130 different options.
Leeds Building Society provides for a wide range of different customers, offering first-time buyer mortgages, buy-to-let mortgages and even shared ownership mortgages. Whether you are buying your first home or a house to rent out, Leeds Building Society has the option for you.
In this review we'll cover:
Is Leeds Building Society a good mortgage lender?
One of the best ways to find out if a mortgage lender is a quality provider is through their customer feedback. At Trussle we regularly look at the customer service records of a range of lenders to see who is doing right by their customers.
In the period between July and December 2018 the Financial Conduct Authority (the financial regulator) received 565 upheld complaints.(1) That’s around 0.3% of their customers, which is lower than the 0.4% average across the 25 lenders we’ve looked at.*
*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.
How long does a Leeds Building Society application take?
While checking the average speed for Trussle customers to have a mortgage application processed by Leeds Building Society, we found that it took 19 days on average.* This is longer than the average of all lenders that we checked, which was 16 days.
Keep in mind, there are a number of factors that can impact how long it takes to be processed. Firstly, you may require more in-depth checks that can take up extra time. Secondly, the lender may go through busier periods and this can understandably affect the process.
The quality of the application that you hand in will also affect how long it takes. So, it may be worth getting the help of a mortgage broker, who will be able to ensure your application is of the highest quality and therefore help it to go through at a faster rate.
How much could I afford to borrow for a Leeds Building Society mortgage?
Leeds Building Society will lend buyers up to 4.75 times their gross income if they have a deposit of 15% or more. They’ll lend buyers up to 4.5 times their gross income if their deposit is below 15%.
These details were last updated on 8th August 2019.
Frequently asked questions (FAQs)
This information was updated in August 2019
What types of mortgages do Leeds Building Society offer?
Leeds Building Society offer a huge range of mortgages to customers. They offer first-time buyer mortgages, shared ownership mortgages, buy to let mortgages, holiday let mortgages, interest-only mortgages and many more. In total, there are more than 130 different products available to you.
How long is a Leeds Building Society mortgage offer valid for?
Mortgage offers are valid for between 3 and 6 months at Leeds Building Society.  There is also the possibility of applying for a mortgage offer extension during the last two months of your offer - there is a small fee involved with this.
Do Leeds Building Society credit check after a mortgage offer?
Leeds Building Society carry out a credit check when deciding whether to give a mortgage offer in principle. In some rare cases, they will carry out another additional check if they feel it necessary.
When is my first mortgage payment to Leeds Building Society due?
Leeds Building Society will write to you to inform you when your first payment is due.
How much can you overpay on a Leeds Building Society Mortgage?
It depends on the mortgage that you have. Some allow you to pay off up to 10% of the loan each year on top of your monthly payments, without having to pay any repayment fees. Others will have different amounts that you can pay off.
Do Leeds Building Society offer mortgage payment holiday?
Leeds Building Society do not offer payment holidays. However, they do offer a range of ways to limit any financial issues you may be having. Such as switching to an interest-only mortgage for a short while, or extending your mortgage term to lower monthly payments.
What happens when my Leeds Building Society mortgage deal ends?
You can either negotiate a new fixed rate deal or move onto a variable interest rate deal.
Do Leeds Building Society offer online banking?
They do. If you have an account or mortgage with them then you can log into your account at any time.
What insurance do Leeds Building Society require me to have?
You are required to have building insurance with a reputable insurance broker.
Did I have PPI on my Leeds Building Society mortgage?
The deadline to make a claim was the 29th August 2019, so you may no longer be able to claim. If you think you may have exceptional circumstances and still wish to claim PPI on a Leeds Building Society mortgage then you can get in touch by calling 03450505075.
How do I contact Leeds Building Society?
If you want to talk about getting a mortgage then you can call 03450 50 50 62 to discuss it.
If you want to make changes to an existing mortgage then you can call 03450 50 22 30.
For general mortgage queries 03450 50 50 75 is the number to call.
All of these numbers are available during normal business hours which are 9 am until 6 pm during the week and 9 am until 2 pm on Saturdays.
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