Top 10 Mortgage Lenders
6th September 2019
The UK’s top ten mortgage lenders lent a staggering £211.3 billion in 2018, increasing their market share to 78.7%, up from 77.1% in 2017. The top seven lenders retained the ranking they held in 2017, according to data released by UK Finance.
The Yorkshire Building Society and Virgin Money swapped places in 2018, with Clydesdale Bank taking the tenth spot ahead of last year’s entrant, TSB. An additional 60 lenders accounted for the final fifth of the mortgage market.
If included, the ‘Bank of Mum and Dad’ would have taken 10th position. According to Legal and General, parents and family members lent £6.3 billion to loved ones in 2018.
Figures from the Bank of England indicate mortgage approvals for the first half of 2019 are 1.1% higher than a year ago, with lending virtually unchanged. The current average mortgage rate is at an historic low of just 2.43%.
Who, How and Why of HMO Investors
12th July 2024
Around half of HMO (house in multiple occupation) landlords surveyed said that they use their property or portfolio as their…
Understanding the Labour Party’s Plans for the Rental Market
12th July 2024
With the Labour Party’s recent take over, we look back at their manifesto to identify the significant changes that are…
Explore Non-Traditional Deposit Options, Company Guarantors & Bills Packages: A Win-Win for Landlords and Tenants
12th July 2024
As the rental market evolves, there has been a notable 25%+ increase in demand for alternative deposit solutions, according to…