Specialist lending rose 44% in 2011
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Specialist lending increased 44% last year compared with 2010, figures from the Building Societies Association show.
The BSA has published a breakdown of gross mortgage lending on its website which separates the amount of business done by societies, banks and specialist lenders.
Specialist lenders saw gross lending jump from £7.4bn in 2010 to £10.7bn in 2011, a significant rise from the nadir of 2009 when lending was just £5bn.
Societies enjoyed a successful year with gross lending rising 16% from £20.4bn to £23.6bn. This comes at the expense of banks, which saw gross lending fall by nearly £1bn.
Banks’ market share of gross lending dropped 7.3% from its peak of 82.5% in 2009 when total lending was £118.4bn, compared with £105.8bn in 2011.
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