Leeds Building Society in the UK is a large stable financial institution.
Leeds Building Society (Ireland) established their operation to enter the Irish mortgage market just before the peak of the boom. At one point close to half of their mortgages were in arrears. Leeds Building Society (Ireland) pulled out of the Irish mortgage market but did not sell their mortgages to a hedge fund nor bank. Instead, Leeds Building Society (Ireland) have been winding down their mortgage book while offering euro deposits to cover the euro mortgage liabilities.
Leeds Building Society (Ireland) has been described as "legacy" by their parent. They only have 2 staff left running their deposit and mortgage operation here according to their accounts.
Leeds Building Society (Ireland) operate under EU passporting which might cease to exist on 1 April 2019. Leeds Building Society (Ireland) a while ago told the Sunday Times that they were waiting to decide their new legal structure. Time is getting limited and regulators are putting big pressure on banks that don't have a post Brexit legal structure.
At a guess, on one hand Leeds Building Society (Ireland) seem to have an aversion to selling their mortgages to a hedge fund, I mean, surely there has been a plenitude of opportunities to do so. On the other hand, they know they cannot seek a full banking license here and time is running out to sort out their structure. They seem to be either buying time for post Brexit clarity, which is a risky strategy, or perhaps they are engaged in private discussions on the sale of their mortgage book.
Their Freedom 30 (Issue 3) product here continues to offer a market leading 0.65% AER variable. A great rate these days unless regular saver products are an option for you. The downsides are the fact that Leeds Building Society (Ireland) operate the account by cheque only and one runs the risk that Leeds Building Society (Ireland) will shut down here but if that happens you will simply get your money back.