View more on these topics

CML: Challenger banks grow market share by 50%

Data-Corporate-Finance-Business-Pen-Graph-Growth-700x450.jpg

Challenger banks and specialist lenders grew their gross lending by 56 per cent last year, according to the Council of Mortgage Lenders.

The increase gave the sector a 2.9 per cent increase in market share.

Banks increased their gross lending by 4 per cent and building societies by 9 per cent.

GROWTH IN GROSS LENDING 2014-15

Screen Shot 2016-07-29 at 11.58.44

Total gross lending in 2015 was £220bn, up 8 per cent on the year before. A CML spokesman noted that the market was still “highly competitive”.

The CML has also ranked lenders in the UK in terms of size by gross lending.

The top four 2015 positions are unchanged on 2014: Lloyds, Nationwide, Santander and Royal Bank of Scotland.

RBS has switched positions with Barclays to become the fifth largest lender.

The top ten are:

Screen Shot 2016-07-29 at 12.04.37

Challenger banks and specialist lenders moved the most up the rankings.

Of the 16 challenger/specialist lenders on the list, 11 increased their gross lending enough to move up.

The biggest increase was Metro Bank, which moved from 24th to 16th spot by increasing its gross lending from £500m to £1.5bn in a year.

CML members wrote 97 per cent of all UK gross mortgage lending and outstanding mortgages in 2015.

Recommended

House-Home-Property-Ladder-Mortgage-700x450.jpg

CML: UK still aspires to own homes post-Brexit

Most UK adults still want to be homeowners despite the Brexit vote, according to the Council of Mortgage Lenders. The CML commissioned a YouGov poll that showed that 72 per cent of adults want to own houses in two years’ time and 80 per cent in 10 years’ time. CML chief economist Bob Pannell says: […]

House-Home-Property-Ladder-Mortgage-700x450.jpg

Mortgage lending up 16% in June: CML

Gross mortgage lending rose 16 per cent month-on-month to £20.7bn in June, according to the Council of Mortgage Lenders. The June figure is 3 per cent higher than the same month in 2015. This is the highest June figure in eight years when gross lending reached £22.6bn in 2008. Gross mortgage lending for the second […]

Home-House-Monopoly-Money-Property-700x450.jpg

First-time buyer lending up 23%: CML

First-time buyer lending rose 23 per cent year-on-year to £4.3bn in May 2016, according to the Council of Mortgage Lenders. However, the figure fell 15 per cent on April. Remortgage lending rose by 30 per cent year-on-year to £5.2bn in May, but fell 15 per cent on April. Homemovers and landlords  saw lending drop by […]

Dividend slump? Not if you look globally

By George Boyd-Bowman, Manager of the Neptune Global Income Fund Recent research has indicated that global dividend growth will slump by as much as 50 per cent in 2016. As collapsing commodities hit high-profile dividend payers, George Boyd-Bowman explains why the US and Japan are his top picks for income growth in 2016. Click here […]