Thursday, September 9, 2010

Trio 'dominate' mortgage market - �Money News - MSN Money UK

Trio 'dominate' mortgage market - �Money News - MSN Money UK:

"Trio 'dominate' mortgage marketLloyds Banking Group was the biggest mortgage lender in 2009, figures show

Nearly two-thirds of all mortgages were advanced by just three lenders in 2009 as competition continued to be constrained by the credit crunch, figures have shown.

Lloyds Banking Group, in which the Government holds a 41% stake, was the biggest lender during the year, following its merger with HBOS at the beginning of 2009.

The combined group advanced �34.7bn in 2009, giving it a 24.1% market share, according to the Council of Mortgage Lenders (CML).

It was followed by Spanish banking giant Santander, which lent �26.4bn, accounting for 18.4% of the market.

Nationwide was the third biggest lender, and one of only two building societies to make it into the top 10, with a market share of 17.8% after advancing �25.5bn."

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