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 mortgage lenders 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 Building Society 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. They often help people looking for income-stretch mortgages, credit blip mortgages, interest-only mortgages, and self-employed borrower mortgages. The list is pretty endless."?

Click here to read the full lending list: https://www.trinityfinancialgroup.co.uk/mortgage-tools/mortgage-news/which-lenders-provide-the-most-mortgages-uk-finance-figures-show-the-largest-mortgage-providers/

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