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Lloyds leapfrogs Abbey but HBOS stays on top

Abbey National has slipped from second to third in terms of mortgage market share, according to the Council of Mortgage Lenders’ annual ranking table of the biggest lenders.

Abbey saw its share of gross mortgage lending in the year to April 30 drop to 8.6 per cent from 10.7 per cent over the previous 12 months. The lender had 25bn of gross mortgage lending in the year to April 30, 2005.

Lloyds TSB has leapfrogged Abbey and Nationwide to rise to second from fourth place.

Abbey director of protection and mortgages Ricky Okey admits service at Abbey has seen significant problems since he was appointed to his role five months’ ago but says he is instigating significant changes to service to rectify a rocky per-iod which followed the start of mortgage regulation.

GMAC RFC just failed to meet its own prediction that it would break into the top 10 of the league table and is 11th although its gross mortgage lending was up from 4.8bn to 6.3bn over the period.

Lloyds TSB’s market share remained at 9 per cent but gross mortgage lending has risen from 24.2bn to 26.3bn.

HBOS remains top of the league although gross mortgage lending was down on last year from 70.3bn to 68.1bn, and market share fell from 26 per cent to 23.4 per cent.

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