Leeds Building Society has reported strong interim results for the first half of 2025, growing membership to over one million and supporting a record number of first-time buyer completions.
The Society said it helped 9,600 first time buyers secure a mortgage between January and June, including a record-breaking 2,700 completions in March.
Total lending for the period reached £2.6bn, in line with the same period last year, while savings balances increased to £25.5bn.
Profit before tax rose to £104.4m, up from £86.4m in H1 2024, and the Society continued to deliver strong value for savers, paying an average of 0.85% above the market rate.
This generated the equivalent of £199.9m in additional annual interest for members.
Annette Barnes, interim chief executive officer at Leeds Building Society, said: “I’m proud of what we have delivered as a Society in the first half of 2025.
“I’m grateful to all of our colleagues, our members, and our intermediary partners for their contribution to our continued success, particularly in our 150th year. In the first half of 2025 we grew our membership to over one million; a significant milestone that reflects continued confidence in our mutual model.
“We’ve remained focused on our purpose of putting homeownership within reach of more people, generation after generation, by helping 9,600 people realise the dream of buying their first home.”
Barnes added: “We’ve also continued to return value to our savings members through competitive and above average interest rates, equating to an extra £199.9 million annually in their pockets.
“As a mutual, we are only ever as strong as the relationship we hold with our members. We have continued to advocate on the issues our members care about.
“As a Society, we have been vocal about the value of Cash ISAs, which provide certainty for people in retirement, those buying their first home, or those saving for major life events.”
The Society maintained a CET1 capital ratio of 25.8% and a low arrears rate of 0.56%. It also reduced mortgage stress testing to responsibly increase lending amounts, in line with updated regulatory guidance.
“Barnes said the savings and mortgage markets had become increasingly competitive, but that the Society’s consistent performance and capable team gave her “real confidence” in its long-term future.
The Society also reaffirmed its commitment to supporting communities through skills-based volunteering and grant funding. It donated £150,000 to five housing-related organisations and raised over £240,000 for Barnardo’s to support care leavers.
