Based on outstanding balances and gross lending in the past year
UK Finance has revealed the largest mortgage lenders in the country. The ranking of the mortgage lenders is based on outstanding balances and gross lending in 2023.
Lloyds Banking Group maintained its top spot, with balances of £305.6 billion and a market share of 18.9% in 2023. Both criteria saw a decrease from 2022 when the company had £309.5 billion in balances and a market share of 19.1%.
Other companies in the top 10 included Nationwide BS, NatWest Group, Santander UK, Barclays, HSBC Bank, Virgin Money plc, Coventry BS, Yorkshire BS, and TSB Bank, respectively.
|
Lender |
Rank (2023) |
Balances (£bn) (2023) |
Market Share (2023) |
|---|---|---|---|
|
Lloyds Banking Group |
1 |
305.6 |
18.9% |
|
Nationwide BS |
2 |
203.1 |
12.5% |
|
NatWest Group |
3 |
192.7 |
11.9% |
|
Santander UK |
4 |
172.6 |
10.7% |
|
Barclays |
5 |
160.6 |
9.9% |
Simultaneously, the ranking for the value of buy-to-let gross lending was released. The rankings were based on the companies’ 2023 lending and market share.
Nationwide BS and Lloyds Banking Group swapped rankings, as Nationwide came in first (second last year), with Lloyds finishing second (first last year).
Nationwide BS’s gross lending was valued at £3.13 billion with a market share of 10.4% for 2023. While the company’s rank increased this year, they both saw a dip compared to 2022, when Nationwide’s gross lending was valued at £6.55 billion with a market share of 11.4%.
Besides those two, other companies that cracked the top 10 included: NatWest Group, OneSavings Bank Plc, Paragon Banking Group, Yorkshire BS, Coventry BS, Virgin Money Plc, Shawbrook Bank, and Barclays, respectively.
|
Lender |
Rank (2023) |
Lending (£bn) (2023) |
Market Share (2023) |
|---|---|---|---|
|
Nationwide BS |
1 |
3.13 |
10.4% |
|
Lloyds Banking Group |
2 |
2.96 |
9.9% |
|
NatWest Group |
3 |
2.57 |
8.6% |
|
OneSavings Bank Plc |
4 |
2.24 |
7.5% |
|
Paragon Banking Group |
5 |
1.63 |
5.4% |
|
Yorkshire BS |
5 |
1.63 |
5.4% |
