Mortgage blog: Revealed – the top 10 lenders in the UK

Posted 11 September 2013

If you're looking for a new mortgage, would you be better off with a major bank or a smaller lender? New figures have revealed the top 10 lenders in the UK in 2012 and show that four major players are responsible for over half the UK's gross mortgage lending.

Lloyds Banking Group remained the UK's biggest mortgage lender in 2012 but there were plenty of lenders whose market shares changed significantly compared to 2011. We look at the lenders that dominate the UK's mortgage market.

Lloyds Banking Group remains the UK's biggest mortgage lender

New figures from the Council of Mortgage Lenders have revealed the 10 banks and building societies responsible for the most mortgage lending in 2012. The UK's biggest lender remained the Lloyds Banking Group - which includes the C&G and Halifax brands - retained the top spot although its market share fell slightly, from 19.8% to 18.3%. The Group lend £26.2bn of mortgages in 2012.

Nationwide jumped from fourth place to second, with gross lending rising from £17.2bn to £21.2bn and its market share rising from 12.1% to 14.8%.

Barclays retained third place despite a fall in gross lending from £20.1bn to £18.2bn while its market share dropped from 14.2% to 12.7%. HSBC entered the top five having increased its gross lending by £3.2bn and its market share from 9.3% to 11.5%.

A major faller in the list was Santander who slumped from second place in 2011 to fifth place in 2012. Its market share fell from 16.8% to 10.2%. A Santander spokeswoman says the lender is deleveraging its mortgage book to focus on business lending. She says: "Mortgage lending is expected to stabilise at a slightly lower level by the end of 2013."

Keith Osborne, editor of WhatHouse.co.uk, says: "The major five banks continue to dominate the market and are responsible for more than two thirds of the gross mortgage lending in the UK. However, some of the more innovative lenders are beginning to take a higher market share. The Coventry and Yorkshire building societies remain in the top 10 while mutuals including the Leeds, the Principality and the Nottingham also increased their market share in 2012."

The top 10 mortgage lenders in full (market share in brackets):

Lloyds Banking Group (18.3%) Nationwide (14.8%) Barclays (12.7%) HSBC (11.5%) Santander (10.2%) Royal Bank of Scotland (9.7%) Coventry BS (3.6%) Virgin Money (3.4%) Yorkshire BS (3.2%) Clydesdale Bank (2.2%)

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