Lloyds Group named biggest mortgage lender in 2008

Date:Tuesday 18th August 2009
Author: Susanna Kavka

Lloyds Group was named the country's biggest lender in 2008, according to figures published by the Council of Mortgage Lenders (CML).

It held an estimated 28.6 per cent of the market share of mortgage balances outstanding at the end of the year - more than double its closest rival, Santander, with an estimated 13.0 per cent.

Nationwide BS was in third place, and Barclays and Royal Bank of Scotland made up the rest of the top five.

The figures were published in the CML's fortnightly News and Views newsletter and, in its commentary, the organisation points out that the table is compiled from published accounts, but that not all firms publish data for a financial year finishing on December 31st.

Two of the major factors that affected the 2008 table were highlighted in the newsletter –the various mergers that took place in the year and the "restrictive and more costly" lending conditions for banks and building societies.

Statistics released last week by the CML indicate that the mortgage market may be stabilising as the number of house purchase loans was up 23 per cent in June compared to May.