ING Direct shoots up to 13 in lending league
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ING Direct has catapulted to 13th position in the Council of Mortgage Lenders’ league of top lenders in 2010, up from 23rd in 2009.
The lender, which offered mortgages through brokers for the first time in 2010, says it expects to gain more ground in 2011 thanks to its intermediary presence.
Julian Hartley, mortgage director at ING Direct, says: “Our improved status reflects that we started from a low base but we are pleased to see our new ranking. Next year’s table will reflect how we have widened our distribution through the intermediary channel.”
Overall, Lloyds Banking Group retained its position as the largest mortgage lender in 2010. It claimed the top spot for a second year, followed by Santander and Barclays.
The top six lenders accounted for 81.5% of the total volume of lending undertaken last year.
Medium-sized lenders also boosted their lending and market share, and there were five new entrants to the top 30 by gross lending in 2010.
The new entrants are Saffron and Cambridge building societies, UBS, Aldermore Mortgages and Market Harborough Building Society.
The new lenders took a 0.5% share of total gross lending in 2010, leaving around 2% of the market spread among the remaining active lenders outside the largest 30.
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