Wednesday, September 18, 2019 - 09:43

After careful consideration Leeds Building Society has decided to withdraw from Gibraltar, having served the local community since 2002.

This decision was made reluctantly following a sustained period of falling demand for both savings products and mortgages.

A statement adds: 'We’ve informed the regulator of our intention to close on 29 November.

'We will be writing to customers before the end of September and explaining any action they need to take.

'The Society will continue to support existing mortgage customers until they refinance.

'Savers will need to make alternative arrangements. Customers can withdraw their money, including fixed term deposits, with no penalty and no loss of interest.

'Our branch in Main Street remains open as usual until 29 November and we thank all customers and colleagues for their support for the Society during our 17 years in Gibraltar.'

18-09-2019 PANORAMAdailyGIBRALTAR