Lloyds mortgage market share falls

Date:Friday 26th February 2010
Author: Max Freedman

The percentage of the mortgage market share held by Lloyds Banking Group has fallen, according to the Guardian.

Owner of Halifax, the nation's largest mortgage lender, Lloyds has admitted that almost 80,000 of its mortgage holders are three months or more behind with their repayments.

It added that its share of new lending had fallen to 24 per cent of the overall market, compared with 31 per cent last year.

Many of the properties that were repossessed by the company after its mortgage holders could not keep up with their payments now appear to have been sold, as the number of properties on its books has fallen by 32 per cent to 2,720.

This drop for the company comes despite an increase in the number of mortgage transactions which are taking place, with the Mortgage Trading Exchange stating that weekly transactions are at levels that have not been seen since 2008.