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West Bromwich, Principality and Co-op top lender list

West Bromwich Building Society, Principality Building Society and the Co-operative Bank have accounted for more than half of all applications in the past month, according to mform.co.uk.

It says that HSBC and First Direct have also seen a surge in applications particularly since the launch of its Rate Matcher guarantee.

Mform.co.uk adds that Halifax and Norwich & Peterborough Building Societies have also featured prominently.

The firm says that just 17 out of 90 lenders have dominated applications through its service in the past month.

The top lenders for first time buyer applications in the past month were Co-op Bank, West Bromwich BS, N&P and Pricipality.

Marketing and business development director Francis Ghiloni says: “The past month has been the most manic ever in the UK mortgage market with unprecedented uncertainty for borrowers let alone lenders who’ve been rapidly repricing and pulling products.

“Our analysis shows that borrowers have concentrated their applications on a relatively select group of lenders with around 17 out of the 90 available doing most of the business.

Ghiloni adds: “The market has shifted dramatically with some lenders now effectively bypassing brokers and going direct. In these turbulent times online services have been able to provide an effective conduit for lenders, borrowers and even for brokers too.”


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