Lloyds remains biggest lender with one-fifth of all new mortgages

Lloyds Banking Group lent almost one fifth of new mortgages last year, figures from the Council of Mortgage Lenders show.

Gross lending experienced strong growth last year, with a total of £203bn being lent – representing a 14% increase on 2013, but still far behind the £357bn lent in 2007.

Between them, Lloyds, Santander, Nationwide, Barclays, RBS and HSBC had 74% of mortgage market share last year.

In total Lloyds lent £40.3bn last year, representing 19.8% of the market share. Santander  jumped into second place, ahead of building society Nationwide, and lent £27.5bn, or 13.5%.

Nationwide lent £26.9bn, equating to 13.2% of market share. In fourth place, Barclays had 10% of the market share, lending £20.3bn, RBS 9.7% (£19.7bn), and HSBC made up the top six after lending £12.6bn – 6.2% of the market share.

Although the big six saw growth of 17%, those ranked seventh to 20th saw much stronger growth – by 46% overall.

Four lenders experienced significant growth in volumes, resulting in each moving a number of places up the lending table. Bank of Ireland doubled its lending, while OneSavings Bank (88%), Paragon (75%) and Clydesdale (61%) also saw strong increases in volume.

The CML expects new mortgage lending to grow to £209bn this year and £230bn next year.

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