The five largest lenders in the UK accounted for 82% of all mortgage lending activity in 2009, according to the CML.
The concentration of gross lending among the top five largest firms has significantly intensified since the advent of the credit crunch, rising from 64% in 2007. The CML said that further consolidation in the market would ensure the current trend continues into the long term. The top five comprised of Lloyds Banking Group, Santander, Nationwide, Barclays and RBS. Lloyds claimed top spot, taking 28% market share of all outstanding mortgage balances at £346bn and 24.1% market share of gross mortgage lending in 2009 at £34.7bn. However, this was less than half of its 2008 total of ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
