Building society expanding in the West Midlands

It already has a branch in Corporation Street in Birmingham city centre.

The new branch in Mill Lane, Solihull, will open before the end of the year, creating five new jobs. It will be its second in the region and 51st overall.

The Leeds has assets of £30 billion and 945,300 members

Chief executive Richard Fearon said: “As a building society we don’t have any external shareholders to satisfy and we focus entirely on what matters to our members.

“The amazing service members receive in our branches, coupled with our ongoing strong financial performance, makes us able to buck the trend among other providers and expand our high street presence.

“We’re absolutely delighted to have chosen Solihull as our next branch location and I look forward to visiting when it opens later this year.”

The society enjoyed a record-breaking first half of 2024. Mortgage lending was up 37 per cent from £1.9bn a year earlier to £2.6bn.

The number of first-time buyers being helped onto the housing ladder increased from 7,700 to 7,800 and almost 17,500 new borrowers were welcomed.

It attracted 47,500 new savings members, leading to record savings balances of £22.4bnl.

Mr Fearon added: “I’m delighted with our record-breaking start to 2024 and our ability to support borrowers and savers so effectively over the past six months.

“We have continued to put home ownership within reach of more people, generation after generation, by helping 7,800 new first-time buyers take their first steps onto the property ladder whilst also supporting existing members and investing in the future of our Society.

“As a mutual we are only ever as strong as the relationship we hold with our members, and we have achieved some significant milestones that reflect their enduring loyalty.

“I’m confident we’re in a great position to invest in the future given our record growth in lending, savings balances and overall membership."