Leeds Building Society

Leeds Building Society is a mutual building society, which means it is owned by its members rather than shareholders. It is best known for two things: savings accounts, including cash ISAs, and mortgages, including deals for first time buyers, shared ownership buyers, landlords and holiday let owners. It does not offer current accounts, credit cards or personal loans, so most people use it alongside a bank rather than instead of one.

The society sells its savings and mortgages directly, through its website, by phone, by post and in its branches, and some of its more specialised mortgages are only available through a broker. Its passbook savings accounts are a distinctive feature: the society states that its passbooks are here to stay, so you can save in branch, online or over the phone¹. This page explains what it offers across each product type, how to open an account, how to contact it, how to complain, and how your money is protected.

Savings accounts and cash ISAs

Leeds Building Society offers a range of savings accounts: cash ISAs, fixed rate bonds, online savings accounts, easy access savings accounts, regular savings accounts and children's savings accounts¹. Within cash ISAs it offers both variable and fixed rate options⁵. If you are weighing up how savings accounts work generally, see our guide to savings accounts, and for how ISAs work, see ISAs.

There are two ISA rules worth knowing before you open anything. First, Leeds Building Society only offers cash ISAs, not stocks and shares ISAs⁶. Second, you may only subscribe to one cash ISA in a single tax year with it⁷. The society does not currently offer a Spousal ISA, though other banks and building societies do⁸.

On tax, Leeds Building Society no longer deducts tax from the interest it pays you⁸. It sends a statement each year outlining how much interest you have earned, and supplies additional statements on request, even for closed accounts⁸. Interest received on compensatory payments is different: it is not affected by the Personal Savings Allowance and is subject to tax deduction⁸. To remain CRS compliant, the society asks a few questions when you open an account or change your details, mostly about tax residency and whether you are a citizen of the United States⁸. The society states clearly that it cannot provide tax advice⁸.

When a fixed rate bond matures, the society writes to you beforehand to ask what you want to do with your money. If the maturity date passes without instructions, the money automatically goes into an instant access account⁹. One trap to avoid: if you move money from one of its cash ISAs into a bond, it loses its tax free status⁹.

Mortgages for home buyers, first time buyers and shared owners

Leeds Building Society lends to people buying a home to live in, people moving home, and people buying through shared ownership. Mortgages are subject to eligibility, status and financial standing¹⁰. For an explanation of how mortgages work generally, see our mortgages guide, and for the whole buying process, buying a home.

For first time buyers, the society asks for standard evidence as part of the application, including the last 3 months' bank statements¹¹. Independent reporting in June 2026 noted that Leeds Building Society offers some first time buyers with a minimum household income of £30,000 borrowing of up to 5.5 times their earnings on certain products¹². In Scotland, the society is one of the participating lenders in the First Homes Fund, alongside lenders such as Halifax, Nationwide, NatWest, Skipton Building Society and others¹³.

If you are a sole borrower or the first named joint borrower, taking a mortgage with the society gives you certain rights to vote on and participate in votes which are put to members of the Society¹⁰. That is the mutual membership right that comes with being a borrowing member.

The first mortgage payment works slightly differently from later ones: it covers one or two monthly payments, plus initial interest, depending on when the mortgage starts and the payment date you choose¹⁴. Existing customers moving home may be able to keep their current deal by moving their mortgage to the new property, and may be able to borrow more on top¹⁴.

Buy to let and holiday let mortgages

Leeds Building Society lends to landlords as well as home owners. Mortgages you can apply for directly through the society include standard Buy to Let, Holiday Let, and HMO (Houses in Multiple Occupation) mortgages¹⁵. Two further types are broker only: Limited Company Buy to Let Mortgages and Portfolio Buy to Let Mortgages, the latter for borrowers with four or more distinct mortgaged rental properties in the UK¹⁵. You cannot apply online for a buy to let mortgage with the society¹⁵.

An important point for landlords: the society does not offer an advised service for Buy to Let mortgages, including holiday lets, so you make your own choice about which mortgage suits you¹⁶. It also cannot advise existing Buy to Let customers who are switching to a new deal¹⁷. You cannot apply online for a buy to let mortgage, but you can book a non-advised appointment where a Buy to Let Specialist helps with the application¹⁶. On holiday lets, interest is calculated daily, and reducing early repayment charges may apply when selling, switching or overpaying too much¹⁶.

The society also lends more to existing borrowers through its additional borrowing range, which covers Residential, Green Residential, Buy to Let and Holiday Let, Green Buy to Let, Shared Ownership and Help to Buy¹⁸. Debt consolidation applications must go through a mortgage broker¹⁸.

Mortgage fees and early repayment charges explained

Leeds Building Society publishes a tariff of mortgage charges, effective from 1 January 2026, which sets out its mortgage fees¹⁹. Rather than quoting individual figures here, this section explains how the charges work; the society's own tariff and your mortgage offer carry today's amounts.

The main charges to expect are:

• Product fee: varies by product, with details available on request or in your mortgage offer¹⁹
• Arrangement fee: the society typically charges a product arrangement fee depending on the mortgage, and it is refundable should the mortgage not complete²⁰
• Valuation fee: the society charges for valuations, with the cost depending on the valuation²⁰
• Funds transfer fee: charged for electronically transferring the mortgage funds to you or your solicitor¹⁹
• Legal fees: variable, charged by the solicitor directly to you¹⁹
• Partial release of property fee and consent to let fee: charged where those arrangements apply¹⁹

The society does not charge an upfront mortgage booking fee and does not charge a mortgage account fee²⁰.

Early repayment charges are the fee that catches people out. The charge varies, and the society's guidance is to refer to your offer or contact it¹⁹. The tariff shows the charge as a percentage that depends on the length of the product term and the year of the term, with the highest charge in year one, reducing in later years¹⁹. Your annual mortgage statement shows the early repayment charge, if applicable under the terms of your product, calculated as of 31 December 2025²¹. Overpayments may also carry conditions, fees or early repayment charges¹¹. On holiday lets, reducing early repayment charges may apply when selling, switching or overpaying too much¹⁶.

On fixed rate mortgages, repayments stay the same during the fixed term, helping you plan ahead, and after the fixed rate period ends they revert to the society's Standard Variable Rate (SVR)²².

Switching deals and repaying a mortgage

Existing customers who want to secure a new deal before their current deal ends can apply for a switch²³. The rule that matters is timing: submit the application at least eight full working days before the current deal ends, so the new deal starts straight after¹⁷. The society recalculates the monthly payment and writes to you up to one month before the new deal start date to confirm what the new payments will be¹⁷. Independent reporting in June 2026 noted that the society was offering £200 cashback for customers who choose a new deal with it, paid within 30 days of completion of the new deal²⁴. Cashback mortgages are explained in our guide to mortgages.

Existing customers can call 03450 505 075 or use the society's online system to arrange an advised appointment, including for moving a current mortgage to a different property or borrowing more money²³. Buy to Let customers cannot be advised on switching¹⁷.

If you are paying off your mortgage entirely, the redemption payment includes daily interest up to the redemption date, and it is recalculated by the number of days before or after if you redeem on a different date²⁵. A redemption statement is only valid for the calendar month it specifies: if you do not redeem in that month, you need to request a new one²⁵. If you pay by direct debit, the instruction is automatically cancelled once the redemption funds have cleared, but if the mortgage is redeemed within five working days before the next direct debit collection date, there will not be time to cancel it; any overpaid amount is refunded to your bank account within 10 working days²⁵. The society's standard warning applies: your property could be repossessed if you do not keep up your mortgage repayments²⁵.

Opening a savings account: identity checks, funding and cooling off

You can open some accounts online, by phone or in branch. For postal applications, you download, print and complete the PDF application form, choose a funding method, and send the documents by post or into a branch²⁶. The society aims to open your account and return your documents within seven days, and returns all documents by UK Mail; original passports or driving licences are sent back by recorded post after the account is opened²⁶.

Identity checks work like this. If you apply online, the society uses an electronic verification system, and if it cannot identify you electronically it asks for identification documents²⁷. Whenever you contact the society about your accounts, it verifies your identity before disclosing personal information²⁸. Documents can be posted to Investment Services, Leeds Building Society, 26 Sovereign Street, Leeds, West Yorkshire, LS1 4BJ, quoting the reference number from your confirmation email, or taken into a local branch²⁷.

Funding options for a postal account are a cheque from a UK account held in your name and made payable to you, or a transfer from another account with Leeds Building Society²⁶. For an under 18's account opened by post, funding can also be by electronic transfer from another bank account or cash at a local branch²⁹. Once the account is open, you have 30 days to add the minimum balance, or it will be closed²⁶.

If you change your mind, you have 14 days from the date you opened the account to tell the society in writing what you would like to do with your funds. It will then refund your balance, including any interest earned and without any early withdrawal penalty²⁶.

Branches, passbooks, online and phone

Leeds Building Society keeps passbooks, and you can save in branch, online or over the phone¹. Mortgage payments can be made over the phone, using online banking or by visiting a branch³¹, and the secure automated payment line on 03300 081 604 is open 24 hours a day³². Payments into savings accounts can be made by Faster Payments, standing orders, CHAPS and BACS, and the society recommends using your 10 digit account number as the payment reference³⁰.

Online, the society uses several protections. Information provided through its online services is protected by SSL encryption²⁸. After 3 incorrect log-in attempts, access to online banking is not allowed, and you are disconnected from secure pages after 15 minutes of inactivity²⁸. Every time you log in, the date and time of your last log-on is shown, so you can spot activity that was not yours²⁸. For any payments or transfers online, you are asked to key in a one time passcode sent to your validated mobile number or email address²⁸. If the society finds unusual activity, it may contact you to verify it and hold the process until it is confirmed²⁸.

The society uses Confirmation of Payee (CoP), a name checking service, when you transfer money from a Leeds Building Society account, and you can only opt out in exceptional circumstances³³. It uses CoP to verify that your nominated account is a current account in your name, excluding savings account providers, prepay accounts, eWallets or general payment service organisations³³. The society never asks for your password over the phone, by email or face to face, and never asks you to disclose your full password when it contacts you³⁴. On APP fraud, it states that in most cases it will reimburse victims who meet the Consumer Standard of Caution, aiming to do so within five business days, or up to 35 days for more complex cases³⁴. Our scams and fraud guide explains the current rules.

The society also has support pages for helping someone else with their account, including Power of Attorney guidance and bereavement support³⁵.

Struggling with mortgage payments: the options on offer

If you cannot make a mortgage payment, contact the society early. For residential mortgages the number is 0800 028 3220, for Buy to Let it is 0800 028 3218, and for Shared Ownership it is 0800 028 3207³⁶. To discuss your options and changing your payment date, call 0800 072 9739³⁷.

The society sets out options depending on your situation. If you think you will struggle long term and do not see that changing, it may give you time to sell the property, with possible help with the sale³⁷. You may also be able to change your product, which could reduce your interest rate and your mortgage payments and help repay arrears³⁷. The society uses Paylink, an affordability tool which builds an accurate picture of your income and expenditure, when working out what you can afford³⁷.

Overpayments and lump sum capital payments can be made by bank transfer, card payment in branch or over the phone, or cash or cheque in branch, and where your terms allow, you can use them to reduce either your mortgage term or your monthly payments³¹. Free, impartial help with debt is available: see our debt guide for where to get it.

Complaints and the Financial Ombudsman

Complaints can be made through the society's complaints page³⁵. The society acknowledges complaints within 5 working days and aims to resolve them within 15 working days, though in some cases it can take up to 35 working days³⁸. If it calls you about a complaint, it will be from 0113 225 2000³⁸. If you are not satisfied with the final response, you have six months from the date of the letter to refer your complaint to the Financial Ombudsman Service³⁸, which you can do by filling in its complaint form³⁹.

For January to June 2026, in banking and credit cards the society opened 1,648 complaints and closed 1,645, upholding 65.35% of those closed, with 1.61 complaints per 1,000 accounts³⁸. In home finance it closed 981 complaints, upholding 54.94%, with 4.93 complaints per 1,000 balances outstanding³⁸. In insurance and pure protection it upheld 71.43% of complaints closed³⁸. The main cause of banking and credit card complaints was errors or not following instructions³⁸. For comparison with the previous half year, July to December 2025, home finance complaints opened numbered 910³⁸.

How savers' money is protected by the FSCS

Money held in savings accounts and cash ISAs with Leeds Building Society is protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit protection scheme. The society's own documents disagree on the limit: several of its pages state that eligible deposits are protected up to a total of £120,000⁴, while one product page states £85,000 per eligible depositor. Because the documents conflict, both figures are given here; check the FSCS's own current limit before relying on either. Any deposits you hold above the limit are unlikely to be covered²⁹.

Protection applies per person, not per account: all your eligible deposits with Leeds Building Society count together towards one limit, and the FSCS covers up to £120,000 for each person across banks and building societies³. The society is authorised by the Prudential Regulation Authority and the Financial Conduct Authority, and appears on the Bank of England's list of building societies incorporated in the UK³. Its previous names, per the FCA Register, are Leeds Building Society and Leeds and Holbeck Building Society². See our consumer protection guide for how the FSCS works across firms.