Smaller firms show strongest growth

Jessica Nangle

June 20, 2017

In 2015 medium-sized lenders saw particularly strong growth as shown in the data with a 56% increase in annual lending volumes, the latest Council of Mortgage Lenders (CML) data shows.

Precise Mortgages, Metro Bank, Fleet Mortgages and L&G Home Finance all saw significant expansion of activity in terms of lending growth.

Gross lending in 2016 totalled £245bn which is a year-on-year increase of 11%.

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The proportion of new lending by the top 10 firms remained at 84% during 2016, and Lloyds Banking Group maintained its position as the largest mortgage lender in the UK.

In terms of the future, the CML describes uncertainty as being “accentuated” making predictions even more difficult to determine.

However, the CML claim that the mortgage market appears to be “well equipped to react and respond to the evolving needs of mortgage customers in the UK.”

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