Lloyds Banking Group has retained its place as the UK’s largest lender with a market share of just under 20 per cent.
Figures released today by the Council of Mortgage Lenders show the group lent £40.3bn to mortgage borrowers last year, up from £35.5bn in 2013.
Santander moved up one place to second, lending £27.5bn to borrowers in 2014. This gave it a market share of 13.5 per cent. The previous year it lent £18.3bn and had a market share of 10.3 per cent.
Nationwide was the third biggest lender last year, dropping one place. It lent £26.9bn – the same as in 2013 – although its market share fell from 15.1 per cent to 13.2 per cent.
Barclays remained in fourth place but increased its lending from £16.9bn to £20.3bn. Its market share increased from 9.5 per cent to 10 per cent.
Royal Bank of Scotland moved into the top 5 and lent £19.7bn to borrowers last year – up from £14.3bn the year before. Its market share grew from 8 per cent to 9.7 per cent.
The six largest lenders accounted for 72 per cent of activity – roughly the same as 2013.
Largest mortgage lenders by gross lending: