Lloyds Banking Group takes top spot as largest mortgage lender
Lloyds Banking Group remained the largest residential mortgage lender in the UK in 2022, with £52.7bn in residential mortgage lending producing a 16.8 per cent market share.
According to UK Finance, this compares to £55.9bn and 18.1 per cent market share in 2021.
NatWest Group was the second largest lender, the same position as 2021, with residential mortgage lending rising from £36.1bn to £41.5bn year-on-year.
Nationwide Building Society came third with £37.8bn in residential mortgage lending with a 12.1 per cent market share.
Santander UK, Barclays and HSBC retained fourth, fifth and sixth spots, respectively, with lending of £35.7bn, £29.7bn and £27.5bn apiece.
Aaron Strutt, product director at Trinity Financial, says: "Lloyds Banking Group is a huge mortgage lender with its leading brands Bank of Scotland, Halifax, Scottish Widows and BM Solutions. Our brokers use the bank's private banking section, which regularly offers mortgages to clients with complex financial situations or unusual properties.
"All of the mortgage lenders offer different bits of acceptance criteria and varying products. Our brokers use the full range of banks and building societies to secure mortgages for our clients, especially as borrowers have such varying requirements whether they want more generous income multiples, larger mortgage loans or interest-only mortgages."
Virgin Money climbed to the seventh position in the mortgage lending table
Virgin Money climbed to seventh position, up from ninth last year. Its residential lending came to £10.5bn, securing a market share of 3.3 per cent.
Yorkshire Building Society was eighth, the same as last year, with residential lending coming to £9.8bn and market share estimated at 3.1 per cent.
Coventry Building Society fell to ninth from seventh, with residential lending of £8.9n and a market share of 2.8 per cent.
TSB Bank made the top ten, with £7bn in residential mortgage lending and 2.2 per cent in market share. This is in line with last year's figures.
The Bank of England base rate increases have hit the mortgage market, and rates are much higher than they were. Some of the biggest lenders like Barclays and HSBC have lowered the price of their mortgages, so it will be interesting to see if more.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
