Combining Halifax, Bank of Scotland, BM Solutions, The Mortgage Business (TMB) and Intelligent Finance (IF), its half-yearly figures revealed its market share rose to 22 per cent, with gross mortgage lending reaching £35.2 billion across the brand.
Commenting on the findings, Nigel Stockton, managing director of HBOS Mortgage Intermediaries, said: “The first half of 2006 has been very good, and with new entrants coming into the market, our share has grown. The more competition the better.”
TMB reported record applications, rising 87 per cent from the first half of 2005. Its gross advances also rose 57 per cent.
TMB also revealed it had received 665 million applications for June, and admitted it would be looking to further expand over the coming year, with anticipation that it would have to grow its work force.
Commenting on the results, Nigel Payne, managing director at TMB, said: “The group had a really good half year, and, for TMB, the first half of 2006 got us firmly back on the map. The next six months will provide different challenges and the biggest frustration in the first six months of the year was that there was so much more we could have done. I can see some consolidation of our position in the next few months but we will also be expanding our offer, moving further into packaging and direct to intermediary.”
Payne continued: “There is no time for true consolidation within the HBOS group and the figures are yesterday’s findings. We are focusing on how the business can do better in the next six months.”
Stockton confirmed the goals for HBOS over the next 12 months would be to maintain and grow its market share, invest in services to help mortgage intermediaries and borrowers, and continue its drive to make it an organisation worth doing business with.
