One-fifth of mortgages came from Lloyds in Q1
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Lloyds Banking Group laid claim to 20% of the gross mortgage lending market in Q1 2011, with the Royal Bank of Scotland taking a 14% share, their accounts reveal.
Lloyds group completed £5.8bn of gross mortgage lending in Q1, representing a 20% market share, down slightly on its 22.1% share in 2010.
RBS has not revealed its lending figures for Q1 but says its market share of new mortgage lending increased to 14% in the quarter.
The bank says its lending volumes showed signs of recovery in the quarter, with more new mortgages written at lower LTV ratios.
Last week Mortgage Strategy revealed that Santander UK pro-cessed £4.2bn in gross mortgage lending in Q1 2011. This was down from £5.7bn in Q1 2010 and shrank its market share to 14.4% in Q1, compared with 20% a year earlier.
Lloyds group accounts also reveal that the proportion of the mortgage portfolio with an LTV above 100% increased slightly to 13.5% in Q1 from 13.2% at December 31 2010.
The value of the portfolio with an LTV greater than 100% and more than three months in arrears also increased by £100m and is now £3.3bn, representing less than 1% of the portfolio.
Lloyds group reported a loss of £3.47bn for Q1, while RBS reported losses of £528m for the quarter.
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