Best Online Mortgage Lenders 2016

The Best Online Mortgage Lenders 2016

Biggest mortgage lenders 2016 - smaller companies show fastest pace of expansion! Today we are publishing our mortgage credit statistics for CML members in 2016. In our charts, we show members' mortgage credit exposure over the last year, and balance due at the end of 2016, round to the next 100 million pounds and on the same base. That means that the smallest companies - those with less than 50m in credit - are round to zero and are therefore not included in the chart.

Practically all of our members have provided information, although a small number have not given authorization to do so. Overall, our members provided both new business and mortgage credit information, which accounts for around 97% of the overall mortgage business, as released by the Bank of England. In 2016, aggregate exposure amounted to 245bn, an increase of 11% on 2015, a slightly higher pace of overall credit expansion than the 9% recorded in the previous year.

Market conditions have become more competitive, as can be seen from the detail information available in Table 1. Figure 1 shows that the 10 biggest enterprises continued to take over most of the loans, while smaller enterprises made a significant share of credit expansion. By 2015, medium-sized lenders in particular had grown by 56% with an overall rise in loan volume.

Deposits from these customers made up 12% of our overall loan volume, up from 8% in the previous year. Overall, these companies recorded a 60% increase in credit volume. In 2016, the percentage of new loans from the top 10 companies stayed constant at 84%. The Lloyds Banking Group remains the UK's biggest mortgage financier, but further reduced its overall UK mortgage finance franchise from 17 to 17.

The UK also saw its UK franchise fall from 11 to 11. In the opposite sense, the Royal Bank of Scotland's stake increased by 1.8% to 12. 9% and rose by one place in the chart to become the third biggest creditor. Following a trends we have seen over the past two years, a number of challengers and specialised lenders have also made progress.

TSB Bank recorded the strongest increase among them, increased its overall slice of the pie by 0.5% and moved up one place in the rankings to tenth place. A number of other companies in this group all recorded significant business development, most notably Precise Mortgages with credit increases of 54%, Metro Bank (67%), Fleet Mortgages (150%) and Legal & General Home Finance (200%).

Here you can find the complete CML member loans by mortgage due and by 2016 mortgage credits. As far as possible, the numbers are adapted to those reported by the Bank of England companies in the IS format. This definition excludes second fee loans and loans to housing companies.

Not all lenders in prior years applied these standards. Despite Lloyds Banking Group's balance sheet falling by almost 3% to 293bn, it remains the biggest mortgage creditor, with 22 out of the total. The Nationwide Building Society and The Royal Bank of Scotland raised their total debt and mortgage exposure to 13% and 9% respectively.

Somewhat further down the scale, the Coventry Building Society, Virgin Money and TSB Bank boosted their shares of mortgage receivables due. Here you can find the complete CML member loans by mortgage due and by 2016 mortgage credits. As far as possible, the numbers are adapted to those reported by the Bank of England companies in the IS format.

This definition excludes second fee loans and loans to residential enterprises. Not all lenders in prior years applied these standards. Our most recent predictions were more optimistic than before about the outlook for the economy and (to a smaller extent) the residential markets in 2016 and 2017. The fact that after the last parliamentary elections the House got stuck makes these insecurities even worse, making it even more impossible to forecast what the mortgage markets lie ahead of us.

This will be examined in more detail in our comments on the markets to be released on Thursday of this week. However, the evidence we are publishing today, showing growing variety and competitiveness, indicates that the mortgage markets are well placed to meet and meet the changing needs of UK mortgage clients.

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