Back to March 2020

Leeds Building Society supporting tenants and suppliers through Covid-19 outbreak

Leeds Building Society is providing reassurance that measures are in place to support tenants and suppliers who may be facing disruption as a result of the Covid-19 outbreak.

Commercial tenants who occupy Society-owned premises around the UK have been offered temporary rent payment deferrals until the end of May. The Society’s Property Services team has written directly to all tenants to see how their specific needs can be supported at this time.

Meanwhile, suppliers have been reassured that regular payment runs will continue to be carried out multiple times throughout the week, as normal. The Society already operates a robust payment system, whereby invoices received before 3pm on weekdays are processed and sent for approval same-day. Colleagues are working hard to maintain service levels, while being mindful of changing circumstances that may impact the current system.

Andrew Conroy, Chief Financial Officer of Leeds Building Society, said: “Throughout this unprecedented challenge, we recognise that our tenants and suppliers are likely to be facing periods of uncertainty over the coming months.

“We are constantly looking for ways to help those whom we do business with, while regularly testing and reviewing our contingency plans to ensure they are appropriately robust to prepare for any further disruption.

“I’d like to take the opportunity to thank our tenants and suppliers for their continued partnerships under the most difficult of circumstances.”

Leeds Building Society has previously announced a number of ways it is supporting individual members who may be experiencing financial difficulties. Measures include the waiving of arrears fees until the end of May; the extension of mortgage offers for homebuyers; and the offer of mortgage payment holidays for up to three months.

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Notes to Editors

Leeds Building Society operates throughout the UK and had assets of £20.8bn at 31 December 2019 (£19.4bn at 31 December 2018). The Society is a Best Companies 2* employer and its head office is in the centre of Leeds, where it has been based since 1886.

The Society won the title of Best Shared Ownership Mortgage Lender in the 2019 What Mortgage Awards, its fourth consecutive year of success in this category. It also received a Gold Ribbon from Fairer Finance for savings accounts for the second year running, based on customer happiness and trust, along with the ability to explain things clearly.