Back to

Breaking records to help more people buy a home

Our financial results for 2023 show how we’re delivering on our purpose of putting home ownership in the reach of more people, and breaking Society records in the process. We continue to display the financial strength that will allow us to keep improving our service and supporting our members.

Here are the key highlights:

    • Helped 17,700 first time buyers onto the property ladder – more than 1 in 2 of our new mortgages in 2023
    • Continued as the market leading Shared Ownership lender[1], with a 23.5% year-on-year increase in applications for Shared Ownership mortgages
    • £4.4bn in gross mortgage lending, increasing our market share in 2023 to 2.0% (2022: 1.6%)[2]
    • Launched Reach Mortgages and first UK mortgage provider to work with Experian, boosting credit scores on mortgage applications

Helping first time buyers when it’s harder than ever

It’s well documented that 2023 was one of the hardest years to afford a home since we started lending in 1875, and that’s one of the reasons why we continue to ensure as many of our mortgages as possible help first time buyers onto the property ladder. We’re proud to say more than 1 in 2 mortgages in 2023 went to those buying their first home, compared to 1 in 3 in 2022.

We’ve done this by concentrating on the needs of aspiring homeowners, innovating products and developing partnerships. Working with Experian we were first to market with the Boost product to make sure ‘boosted’ credit scores can be factored into mortgage applications.

We launched our Reach Mortgages range, which provides a way to lend to those who might have otherwise been declined.

But innovation doesn’t just come in the guise of products. We also developed partnerships with local authorities to restrict holiday let lending where they felt it was hindering the ability for people to own a home. So, from Thursday 28 March 2024 we will start a 12-month trial where we’ll restrict new loans on holiday let homes in North Norfolk and certain areas of North Yorkshire.

And we continue to lead the way when it comes to Shared Ownership, winning What Mortgage’s Best Shared Ownership Mortgage Lender award for the eighth consecutive year.

Supporting you to support us

Our broker partners are vital to our success - you help us push our purpose forward. That’s why we’re committed to making working with us as easy and efficient as possible.

During 2023, we invested in our digital systems to give you a better experience and deliver streamlined lending journeys. And our average application to offer times reduced by 24%, from 15 to 11 days.

Looking after your clients

We know getting on the housing ladder isn’t easy, but it’s also important that we do everything we can to keep people on it. That’s why we were one of the first lenders to sign the UK government’s Mortgage Charter.

From December 2021, the Bank of England base rate has risen 14 times, and the positive news for existing members is we’ve only applied this to our Standard Variable Rate for mortgages 6 times. Here to support as more people worry about keeping up with their mortgage payments, we haven’t charged arrears fees since 2020, and we won’t be doing during 2024.

We care about protecting something your clients have worked and saved so hard for.

Read our full financial results

[1] Based on analysis of illustrations provided by Twenty7Tec's mortgage sourcing platform.

[2] UK Finance 2023 Mortgage Completions Data (Table MM8).

Please note:

Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

This website is for use by FCA authorised intermediaries only. If you are not an FCA authorised intermediary and would like further information about our products or services, please visit If you are an FCA authorised intermediary and you reproduce any of the information on this website to be used with or to advise customers, then you must ensure that it complies with the Financial Conduct Authority's rules and guidance on financial promotions.

Leeds Building Society is a member of the Building Societies Association.

Leeds Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Leeds Building Society is registered on the Financial Services Register under number 164992. You can check this on the FCA website at or by calling 0800 111 6768. Buy to Let mortgages which are for business purposes are exempt from FCA Rules.

Please note: