Lloyds Banking Group and Nationwide top lending table for 2018
UK Finance has announced the lending figures for 2018 highlighting the UK's largest mortgage providers.
The top five in order of gross lending in 2018 were Lloyds Banking Group, Nationwide Building Society, Santander UK, RBS and Barclays. These were followed by HSBC Bank, Coventry Building Society and then Yorkshire Building Society.
For 2018, gross lending totalled £268 billion, up three per cent on 2017. This was below the 5.5 per cent growth seen in 2017.
Increased competition in the market meant 70 lenders were in the table with gross lending over £50 million of mortgage lending to homeowners and landlords. This is up from 65 lenders the year before and 60 lenders in 2016.
UK Finance says the lenders have seen a “higher demand for mortgages from older borrowers in the last few years, extending their maximum age criteria and adapting underwriting for those whose income in later life is more complex. This has facilitated a competitive and expanding mainstream later life lending market.
“This is also evident within the equity release mortgage market, where we continue to see strong growth. This is driven in part by investment from firms in the life and pensions space, for whom the long-term income stream from equity release mortgages aligns well with their liabilities.”
Click here to view UK Finance's lending table.
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