Leeds Building Society Home Loan Balances Reach All-Time High of £5bn in 2022

Leeds Building Society Home Loan Balances Reach All-Time High of £5bn in 2022

The Leeds Building Society has reported that its home loan balances have reached an all-time high of £5bn in 2022. This is a significant milestone for the society, which has been providing mortgages to customers since 1875.

The society has seen a steady increase in its home loan balances over the past few years, with a particularly strong performance in 2021. This has been driven by a combination of factors, including low interest rates, an increase in demand for mortgages and the society’s commitment to providing competitive products and services.

The society’s chief executive, Richard Fearon, said: “We are delighted to have reached this milestone and it is testament to the hard work of our team and the loyalty of our customers. We remain committed to providing competitive products and services to our customers and we are confident that this trend will continue in the future.”

The society’s success is also due to its focus on customer service. It has invested heavily in technology and customer service initiatives, such as its online mortgage calculator and its ‘My Mortgage’ app, which allows customers to manage their mortgage on the go.

The society is also committed to helping first-time buyers get onto the property ladder. It offers a range of products designed specifically for first-time buyers, such as its ‘First Time Buyer’ mortgage, which offers a discounted rate for those looking to purchase their first home.

Overall, the Leeds Building Society’s commitment to providing competitive products and services, combined with its focus on customer service, has enabled it to reach this all-time high in home loan balances. This is great news for both the society and its customers, and it is likely that this trend will continue in the future.

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