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Leeds Building Society mortgage review

Our Leeds Building Society mortgage review combines customer feedback with expert deal analysis to help you decide if a Leeds BS mortgage is for you.

In this article
Leeds Building Society customer ratings What kinds of mortgages does Leeds offer? Does Leeds Building Society offer the best mortgage deals? Interest rates on Leeds Building Society mortgages How much could I borrow on a mortgage from Leeds?
Can I make overpayments? How can I contact Leeds Building Society? Leeds mortgage eligibility Retirement interest-only mortgages from Leeds What Leeds Building Society's customers say

Leeds Building Society customer ratings

Mortgages
Leeds BS Review
Which? Customer Score
Joint 7th out of 25 mortgage lenders
70%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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The table below shows how Leeds Building Society performed in our latest mortgage satisfaction survey,

We gathered feedback from real Leeds Building Society customers on everything to do with their mortgage, from value for money to statement transparency. 

Customer rating for: Star rating
Customer service

4 out of 5

Application process -
Value for money

3 out of 5

Keeping you well informed

4 out of 5

Clarity of statements

5 out of 5

Transparency of charges 4 out of 5
Query and complaint handling 4 out of 5
Ability to overpay or underpay mortgage -
Online access

3 out of 5

 

Star ratings based on a June 2019 Which? survey of 3,574 members of the general public, in which 49 people told us they had their mortgage with Leeds Building Society. Where no rating is given the sample size was too small.

What kinds of mortgages does Leeds offer?

When we checked in September 2019, there were over 100 mortgages available from Leeds Building Society.

The vast majority of these were fixed-rate deals, some of which offered up to £1,000 cashback. There were also a small number of discount and tracker mortgages available.

Does Leeds offer interest-only mortgages?

Yes, and the most you could borrow is 60% of the property’s value. Alternatively, you can borrow up to 75% of a property's value, but only the first 60% will be repaid on an interest-only basis.

Leeds also offers retirement interest-only mortgages for older borrowers.

Does Leeds Building Society offer the best mortgage deals?

Our analysis found that Leeds Building Society offers fewer cheap mortgages than the average lender.

To work this out, Which? experts analysed thousands of mortgages over a four-week period in August 2019 and compiled more than 200 'top-10 cheapest deal' tables based on a variety of hypothetical borrowing scenarios. They then counted how frequently each lender appeared in one of these tables. 

The average number of times a lender featured was 15, but Leeds Building Society only appeared 8 times. (Data source: Moneyfacts.)

 

Interest rates on Leeds Building Society mortgages

In September 2019, most mortgages from Leeds Building Society had a fixed interest rate, meaning your interest rate is guaranteed to stay the same for a set number of years.

The average interest rate on a two-year fixed-rate deal from Leeds was 2.48%, slightly cheaper than the industry average of 2.77%.

How much could I borrow on a mortgage from Leeds?

Below we’ve outlined how much you could borrow from Leeds Building Society, in relation to the percentage of the property’s value.

Loan amount Maximum loan-to-value ratio
Up to £300,000 95%
£300,000 - £400,000 90%
£400,000 - £500,000 85%
£500,000 - £750,000 80%
£750,000 - £1,000,000 75%
£1,000,000 - £1,250,000 65%

Leeds will lend up to 90% on new build houses, and 85% on new build flats. 

If you are moving home or remortgaging, and borrowing up to 85% LTV, you can secure a loan for up to 4.75 times your gross income. First-time buyers can borrow up to 4.5 times their income, as can anyone borrowing over at more than 85% LTV.

Can I make overpayments?

You can make overpayments of up to 10% per year on all Leeds Building Society mortgages. 

If you want to overpay more than that, you may have to pay an early repayment charge, but this will depend on your mortgage.

How can I contact Leeds Building Society?

Leeds can be contacted on 03450 505 075.

Its website is leedsbuildingsociety.co.uk.

Leeds mortgage eligibility

You won’t be able to apply for a mortgage from Leeds if you had a property repossessed within the past six years.

If the property you’re looking to mortgage is next to or close to a pub, restaurant, laundrette, petrol station or pet shop, you might not be able to get a mortgage from Leeds Building Society. Properties like this will be assessed on a case-by-case basis. 

If the property is a leasehold, there must be at least 85 years left on the lease at the start of the mortgage term. Leeds also won’t lend on leasehold properties with onerous clauses, such as a ground rent that is excessive or increases at an unreasonable rate.

Retirement interest-only mortgages from Leeds

Leeds Building Society also offers a range of retirement interest-only mortgages to borrowers aged between 55 and 80. These mortgages are fixed-rate deals lasting two, five, ten or fifteen years, and are currently only available directly, or by using a mortgage adviser.

The most you could borrow from Leeds with a retirement interest-only mortgage is 55% of your property’s value.

What Leeds Building Society's customers say

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