Lloyds Banking Group retained its top spot as the UK’s largest mortgage lender within the newest UK Finance rankings, as residence mortgage finance seems to be set to develop over the 12 months forward.
The group, which owns Halifax, noticed its gross lending leap by 28% to £47bn final 12 months, lifting its market share to 19.4% in 2024 from 16.3% the earlier 12 months.
Nationwide took second spot, transferring up one place to overhaul NatWest.
The mutual, which accomplished its £2.3bn buy of Virgin Money in September, posted annual gross lending up 70% to £41.8bn, enhancing its market share to 17.3% from 10.9%.
NatWest fell one place to 3rd, with gross lending falling 10% to £27bn, and market share dipping to 11.2% in 2024 from 13.3% the earlier 12 months.
The rankings come on the finish of a big couple of weeks for the sector, with regulators easing quite a few restrictions on mortgage lending in step with the federal government’s progress agenda.
Perhaps the most vital of which is that enormous establishments will likely be allowed to underwrite extra excessive loan-to-value lending, which was granted by the Financial Policy Committee final week.
Nationwide has stated this transfer will permit it to jot down round 10,000 extra first-time purchaser loans over the approaching 12 months, whereas Lloyds Banking Group introduced it might put aside an additional £4bn for prime loan-to-income lending.
Further bulletins from main companies are anticipated on this riskier space of lending.
The Financial Conduct Authority is finishing up a evaluate of residence mortgage guidelines, which can permit potential consumers’ document of paying hire on time to indicate they will afford mortgage funds, which might additional increase FTB loans. This report is predicted within the autumn.
Earlier this week, Chancellor Rachel Reeves stated the measures already introduced by regulators ought to raise FTB loans by 36,000 over the approaching 12 months.
Buy to let
In the owner sector, Nationwide saved top spot with annual lending greater than doubling to £6.78bn, with its market share leaping 20% in 2024 from 10.6% the 12 months earlier than.
Lloyds Banking Group lifted one place to quantity two, with lending additionally greater than doubling to £5bn, as its market share rose to 14.8% final 12 months from 7.6%.
NatWest fell one spot to joint third, with lending tumbling 31% to £1.8bn, as its market share fell to five.3% from 8.7% over 12 months.
Specialist Onesavings Bank — which incorporates Precise, Kent Reliance and Interbay — was additionally joint third, with lending falling 18% to £1.8bn, its market share fell to five.3% from 7.6% over the interval.
UK Finance top ten rankings of gross residential mortgage lenders are:
Rank
Lending (£bn)
Market share
Rank
Lending (£bn)
Market share
Lender
(2024)
(2024)
(2024)
(2023)
(2023)
(2023)
Lloyds Banking Group
1
47.0
19.4%
1
36.8
16.3%
Nationwide BS
2
41.8
17.3%
3
24.6
10.9%
NatWest Group
3
27.0
11.2%
2
29.9
13.3%
Barclays
4
22.1
9.1%
5
21.1
9.4%
HSBC Bank
5
19.8
8.2%
4
23.4
10.4%
Santander UK
6
15.8
6.5%
6
12.9
5.7%
Yorkshire BS
7
9.3
3.8%
7
8.7
3.9%
Coventry BS
8
7.1
2.9%
8
8.3
3.7%
Skipton BS
9
6.0
2.5%
10
6.4
2.8%
Leeds BS
10
5.5
2.3%
11
4.3
1.9%
UK Finance top ten rankings of gross BTL mortgage lenders are:
Rank
Lending (£bn)
Market share
Rank
Lending (£bn)
Market share
Lender
(2024)
(2024)
(2024)
(2023)
(2023)
(2023)
Nationwide BS
1
6.78
20.0%
1
3.13
10.6%
Lloyds Banking Group
2
5.02
14.8%
3
2.33
7.9%
NatWest Group
3
1.79
5.3%
2
2.57
8.7%
OneSavings Bank Plc
3
1.79
5.3%
4
2.24
7.6%
Coventry BS
5
1.59
4.7%
8
1.54
5.2%
Paragon Banking Group
6
1.58
4.7%
6
1.63
5.5%
Shawbrook Group
7
1.51
4.4%
5
1.96
6.6%
Yorkshire BS
8
1.44
4.2%
6
1.63
5.5%
Aldermore Bank
9
1.35
4.0%
13
0.74
2.5%
HSBC Bank
10
0.92
2.7%
14
0.71
2.4%
