Which lenders provide the most mortgages? UK Finance figures show the largest mortgage providers
UK Finance has revealed the country's largest mortgage lenders. The ranking of the banks and building societies is based on outstanding balances and gross lending in 2023.
Lloyds Banking Group maintained its top spot, with balances of £305.6 billion and a market share of 18.9% in 2023. While these figures are impressive; they decreased from 2022, when the company had £309.5 billion in balances and a market share of 19.1%.
Other companies in the top ten included Nationwide Building Society, NatWest Group, Santander UK, Barclays, HSBC Bank, Virgin Money plc, Coventry Building Society, Yorkshire Building Society, and TSB Bank, respectively.
Aaron Strutt, product director at Trinity Financial, says: "Lloyds Banking Group tends to top the mortgage lending list and it is not surprising given its size. Its most popular brand is Halifax, and it has a great reputation for issuing fast mortgages with decent rates. Barclays, NatWest, and Nationwide also have pretty glowing reputations, and our brokers use them a lot.
"The top ten lenders issue the most mortgages and tend to have the most competitively priced rates, but the other lenders have a part to play. Many of them provide mortgages to borrowers who struggle to qualify with the biggest lenders, and they have some really good acceptance criteria. This includes income stretch mortgages, credit blip mortgages, interest-only, and self-employed borrower mortgages. The list is pretty endless."
UK Finance members, value of mortgages outstanding, UK
|
||||||
| Lender |
Rank |
Balances (£bn) |
Market share |
Rank |
Balances (£bn) |
Market share |
|
|
(2023) |
(2023) |
(2023) |
(2022) |
(2022) |
(2022) |
|
Lloyds Banking Group |
1 |
305.6 |
18.9% |
1 |
309.5 |
19.1% |
|
Nationwide BS |
2 |
203.1 |
12.5% |
2 |
203.6 |
12.6% |
|
NatWest Group |
3 |
192.7 |
11.9% |
3 |
186.8 |
11.5% |
|
Santander UK |
4 |
172.6 |
10.7% |
4 |
184.1 |
11.4% |
|
Barclays |
5 |
160.6 |
9.9% |
5 |
161.0 |
9.9% |
|
HSBC Bank |
6 |
125.4 |
7.7% |
6 |
121.6 |
7.5% |
|
Virgin Money plc |
7 |
57.1 |
3.5% |
7 |
58.4 |
3.6% |
|
Coventry BS |
8 |
50.3 |
3.1% |
8 |
48.0 |
3.0% |
|
Yorkshire BS |
9 |
44.8 |
2.8% |
9 |
43.6 |
2.7% |
|
TSB Bank |
10 |
33.9 |
2.1% |
10 |
34.7 |
2.1% |
|
Skipton BS |
11 |
26.3 |
1.6% |
11 |
23.4 |
1.4% |
|
Leeds BS |
12 |
21.9 |
1.4% |
12 |
20.4 |
1.3% |
|
Co-operative Bank plc |
13 |
19.1 |
1.2% |
13 |
19.6 |
1.2% |
|
Topaz Finance Ltd |
14 |
13.6 |
0.8% |
16 |
12.6 |
0.8% |
|
OneSavings Bank Plc |
15 |
13.3 |
0.8% |
15 |
12.7 |
0.8% |
|
Bank of Ireland |
16 |
13.0 |
0.8% |
14 |
13.7 |
0.8% |
|
Aviva Equity Release |
17 |
10.9 |
0.7% |
17 |
10.5 |
0.6% |
|
Principality BS |
18 |
9.3 |
0.6% |
18 |
8.2 |
0.5% |
|
More 2 Life |
19 |
8.2 |
0.5% |
20 |
7.2 |
0.4% |
|
Metro Bank |
20 |
7.6 |
0.5% |
19 |
7.5 |
0.5% |
|
Legal & General Home Finance |
21 |
6.7 |
0.4% |
23 |
6.3 |
0.4% |
|
Just Group |
22 |
6.3 |
0.4% |
24 |
6.0 |
0.4% |
|
Kensington Mortgage Company |
23 |
6.2 |
0.4% |
20 |
7.2 |
0.4% |
|
Paragon Banking Group |
24 |
6.1 |
0.4% |
22 |
6.5 |
0.4% |
|
Aldermore Bank |
25 |
5.0 |
0.3% |
25 |
5.6 |
0.3% |
|
Newcastle BS |
26 |
4.6 |
0.3% |
27 |
3.9 |
0.2% |
|
Pure Retirement |
27 |
4.5 |
0.3% |
28 |
3.6 |
0.2% |
|
West Bromwich BS |
28 |
4.4 |
0.3% |
26 |
4.1 |
0.3% |
|
Canada Life |
29 |
3.4 |
0.2% |
30 |
3.3 |
0.2% |
|
Fleet Mortgages |
29 |
3.4 |
0.2% |
43 |
1.5 |
0.1% |
|
Danske Bank |
31 |
3.3 |
0.2% |
31 |
3.1 |
0.2% |
|
Nottingham BS |
32 |
3.2 |
0.2% |
32 |
2.7 |
0.2% |
|
Foundation Home Loans |
33 |
3.1 |
0.2% |
29 |
3.4 |
0.2% |
|
Atom Bank |
34 |
2.7 |
0.2% |
35 |
2.4 |
0.1% |
|
CHL Mortgages |
35 |
2.4 |
0.1% |
32 |
2.7 |
0.2% |
|
Vida HomeLoans |
36 |
2.3 |
0.1% |
35 |
2.4 |
0.1% |
|
Pepper (UK) Ltd |
37 |
2.2 |
0.1% |
34 |
2.6 |
0.2% |
|
Hampshire Trust Bank |
38 |
2.0 |
0.1% |
41 |
1.6 |
0.1% |
|
Family BS |
39 |
1.9 |
0.1% |
39 |
1.7 |
0.1% |
|
The Mortgage Lender |
39 |
1.9 |
0.1% |
45 |
1.4 |
0.1% |
|
Cumberland BS |
41 |
1.8 |
0.1% |
39 |
1.7 |
0.1% |
|
Shawbrook Bank |
41 |
1.8 |
0.1% |
41 |
1.6 |
0.1% |
|
Pepper Money |
43 |
1.7 |
0.1% |
38 |
2.2 |
0.1% |
|
Progressive BS |
44 |
1.6 |
0.1% |
43 |
1.5 |
0.1% |
|
The Cambridge BS |
45 |
1.5 |
0.1% |
45 |
1.4 |
0.1% |
|
Hodge |
46 |
1.4 |
0.1% |
47 |
1.3 |
0.1% |
|
Monmouthshire BS |
46 |
1.4 |
0.1% |
47 |
1.3 |
0.1% |
|
Gatehouse Bank |
48 |
1.2 |
0.1% |
49 |
1.1 |
0.1% |
|
Newbury BS |
48 |
1.2 |
0.1% |
49 |
1.1 |
0.1% |
|
Furness BS |
50 |
1.1 |
0.1% |
53 |
1.0 |
0.1% |
|
Leek United BS |
51 |
1.0 |
0.1% |
56 |
0.9 |
0.1% |
|
Lendco Ltd |
51 |
1.0 |
0.1% |
53 |
1.0 |
0.1% |
|
Saffron BS |
51 |
1.0 |
0.1% |
53 |
1.0 |
0.1% |
|
Together Financial Services Ltd |
51 |
1.0 |
0.1% |
56 |
0.9 |
0.1% |
|
Bank of America |
55 |
0.9 |
0.1% |
49 |
1.1 |
0.1% |
|
Butterfield Mortgages |
56 |
0.8 |
0.0% |
56 |
0.9 |
0.1% |
|
AIB UK |
57 |
0.7 |
0.0% |
56 |
0.9 |
0.1% |
|
Darlington BS |
57 |
0.7 |
0.0% |
60 |
0.7 |
0.0% |
|
Hinckley and Rugby BS |
57 |
0.7 |
0.0% |
60 |
0.7 |
0.0% |
|
Market Harborough BS |
60 |
0.6 |
0.0% |
62 |
0.5 |
0.0% |
|
Melton Mowbray BS |
60 |
0.6 |
0.0% |
62 |
0.5 |
0.0% |
|
Dudley BS |
62 |
0.5 |
0.0% |
66 |
0.4 |
0.0% |
|
Landbay Partners Ltd |
62 |
0.5 |
0.0% |
66 |
0.4 |
0.0% |
|
Scottish BS |
62 |
0.5 |
0.0% |
62 |
0.5 |
0.0% |
|
Swansea BS |
62 |
0.5 |
0.0% |
66 |
0.4 |
0.0% |
|
Tipton & Coseley BS |
62 |
0.5 |
0.0% |
66 |
0.4 |
0.0% |
|
keystone property finance ltd |
67 |
0.4 |
0.0% |
66 |
0.4 |
0.0% |
|
Lendinvest |
67 |
0.4 |
0.0% |
62 |
0.5 |
0.0% |
|
Cynergy Bank Limited |
69 |
0.3 |
0.0% |
71 |
0.3 |
0.0% |
|
Hampden & Co |
69 |
0.3 |
0.0% |
74 |
0.2 |
0.0% |
|
Harpenden BS |
69 |
0.3 |
0.0% |
74 |
0.2 |
0.0% |
|
Molo Tech Ltd |
69 |
0.3 |
0.0% |
71 |
0.3 |
0.0% |
|
State Bank of India UK |
69 |
0.3 |
0.0% |
71 |
0.3 |
0.0% |
|
Ecology BS |
74 |
0.2 |
0.0% |
74 |
0.2 |
0.0% |
|
Morgan Stanley Bank |
74 |
0.2 |
0.0% |
74 |
0.2 |
0.0% |
|
Stafford Railway BS |
74 |
0.2 |
0.0% |
74 |
0.2 |
0.0% |
|
1. Figures are aligned with those that firms report to the Bank of England in form IS as far as possible. These definitions exclude second-charge lending and lending to Housing Associations. |
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|
2. In previous years not all lenders reported to these standard definitions. Where this is the case, figures and/or rankings may differ from those shown in last year's table. |
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|
Source: UK Finance |
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The information contained within was correct at the time of publication but is subject to change.
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