Top Mortgage Lenders 20162016 top mortgage lender
Beyond the top ten, the CML found that mid-sized lenders had a slower 2016 economic recovery, while smaller lenders dramatically expanded their shares.
By 2015, the main contributors to credit expansion were medium-sized lenders (between 11 % and 20 % of the overall loan volume), with the yearly loan portfolio increasing by 56 %. By 2016, they had risen to 21-30 in terms of credit portfolio, but by 60 per cent in all. Accise Mortgages recorded credit expansion of 54 percent, Metro Bank of 67 percent, Fleet Mortgages of 150 percent and Legal & General Home Finance of 200 percent.
For 2016, the CML numbers show a total of £245bn in total loans, up 11 per cent on 2015.
Small-sized mortgage lenders boost marketshare
Small mortgage lenders recorded the highest rate of expansion in 2016 as challenging financial institutions and specialised companies further expanded their shares, according to the Council of Mortgage Lenders (CML). Among the smaller lenders, TSB Bank recorded the strongest expansion, growing its slice of the pie by 0.5 per cent and improving one place in the chart to tenth place.
Meanwhile, Precise Mortgages has grown its loan volume by 54 percent, Metro Bank by 67 percent, Fleet Mortgages by 150 percent and Legal & General Home Finance by 200 percent. Whereas the share of new loans from the top 10 companies in 2016 stayed constant at 84 per cent , there were some significant changes in business activities.
The Lloyds Banking Group continued to be the UK's biggest mortgage financier, but its overall mortgage finance franchise fell from 17.3 per cent in 2015 to 15.6 per cent last year. The Royal Bank of Scotland, on the other hand, increased its stake by 1.8 percents to 12.9 per cent, thus gaining one place in the rankings of third biggest creditor.
Overall, in 2016 GDP loans increased by 11 per cent compared to the previous year to 245 billion pounds - a slightly higher pace of overall credit expansion than the 9 per cent of the previous year. "What the smaller lenders have done is struggle to take the credit rating to the next level, unlike the majorstream lenders who have just fought for the prize.
"I don't think the big lenders have even grown their books in the last 12 month, and that has enabled the smaller lenders to move and move between the loopholes where [the bigger companies] can't work.