UK Finance has publishes its annual mortgage lenders data for 2017. In an accompanying blog it addressing the underlying trends revealed by the data, highlighting the growth in lending by challenger and specialist lenders.
The mortgage data showed that in 2017 a gross total of £257bn in lending was completed by its members, up 4 percent on 2016.
Based on market share, Lloyds Banking Group continues to hold the largest mortgage book of UK Finance members, with 16 percent of the market in 2017. Lloyds Banking Group is second followed by Nationwide, with 12.3 percent share. RBS has 12 per cent, Santander has 9.8 per cent and Barclays has 9 per cent.
HSBC, Coventry, Virgin Money, Yorkshire Building Society and TSB round off the top 10 lenders with the largest share of the mortgage market. There are now 65 lenders measured in the UK Finance data, up from 60 in 2017.
UK Finance analyst Callum Bilbe said: “2017 was a good year for the mortgage market with more lenders competing for business, and gross lending continuing on an upward trend. In our most recent market forecasts we predicted gross lending of £260 billion in 2018 – an increase of about two per cent. Lending in the early months of 2018 has, so far, outpaced our forecasts, driven largely by stronger-than-expected remortgage activity.”
“The uncertainties we set out last year – not least those relating to the UK economy – remain; these have the potential to affect the path of lending for the rest of this year and beyond. However, the market has shown this year that, yet again, it is competitive and robust enough to continue to help UK mortgage customers as their needs change.”