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Leeds Building Society mortgage review

Our Leeds Building Society mortgage review combines customer feedback with expert deal analysis to reveal whether the lender is worth considering next time you apply for a mortgage.

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 More information on Leeds mortgages What Leeds Building Society's customers say Get personal mortgage advice

Leeds Building Society customer ratings

Mortgages
Leeds BS Review
Which? Customer Score
70%
Joint 10th out of 23 mortgage lenders
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.
Compare Leeds Building Society

The table below shows how Leeds Building Society performed in our latest mortgage satisfaction survey, from application process to value for money.

Customer rating for: Star rating
Customer service

3 out of 5

Application process

-

Value for money

3 out of 5

Keeping you well informed

3 out of 5

Clarity of statements

4 out of 5

Transparency of charges

2 out of 5

Query and complaint handling

3 out of 5

Ability to overpay or underpay mortgage

3 out of 5

Online access

2 out of 5

 

Star ratings based on a June 2018 Which? survey of 3,560 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 July 2018, there were around 150 mortgages available from Leeds.

Most 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.

If you plan to repay an interest-only mortgage by downsizing, you’ll need to tell Leeds where you want to move to, due to the regional differences in property prices.

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Does Leeds Building Society offer the best mortgage deals?

Which? analysis has found that Leeds Building Society offers far fewer cheap mortgages than the average lender.

In order to work this out, our experts analysed thousands of mortgages over a four-week period in June and July 2018. They compiled a total of 108 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 14, but Leeds Building Society didn’t feature at all. (Data source: Moneyfacts.)

Interest rates on Leeds Building Society mortgages

When we checked in July 2018, 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 2.28%, compared with the industry average of 2.81%.

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

Property value 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%

Can I make overpayments?

You can make overpayments on some mortgages from Leeds Building Society by paying a higher amount in a month, or paying a lump sum at anytime. If you want to immediately reduce the amount that you pay interest on, you’ll need to pay a lump sum of at least £1,000.

If you want to make overpayments, 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’ve had a property repossessed within the past six years.

If the property you’re looking to mortgage is next or close to a pub, restaurant, petrol station or pet shop, you won’t be able to get a mortgage from Leeds Building Society.

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.

More information on Leeds mortgages

Leeds offers ‘Welcome mortgages’ which claim to have a 0% interest rate for the first few months. You’ll still need to make the monthly payment towards repaying the capital, although it could free up extra cash to spend on decorating, furniture and home improvements. The discount you receive on interest in the first few months is calculated and repaid over the remaining mortgage term.

Leeds Building Society also offers mortgages for holiday homes, whether you’re staying in the property yourself or letting it out to holidaymakers.

Retirement interest-only mortgages

Leeds Building Society offers a range of retirement interest-only mortgages to borrowers aged between 55 and 80. These mortgages are fixed-rate deals lasting two, three or five years, and are currently only available if you use a mortgage adviser.

The most you could borrow from Leeds with a retirement interest-only mortgage is 55% of your property’s value, and you don’t need to own a certain amount of equity to be eligible.

What Leeds Building Society's customers say

Get personal mortgage advice

Correct as of date of publication.

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