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Lloyds Banking Group named largest BTL lender in UK Finance data

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  • 04/12/2019
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Lloyds Banking Group named largest BTL lender in UK Finance data
UK Finance has published figures outlining the nation’s largest buy to let lenders for the first time.

 

The data covers the buy to let market in 2018, with Lloyds Banking Group named as the biggest lender, with a gross balance of £50.97bn outstanding, equivalent to a market share of 20.3 per cent.

However, Lloyds’s balance over the period was down from the £52.51bn reported in 2017.

Here is how the top 10 shaped up according to the UK Finance data:

Lender Gross outstanding balance (£bn) Market share
Lloyds Banking Group 50.97  20.3 per cent
Nationwide BS 31.16  12.4 per cent
Barclays 16.53  6.6 per cent
Coventry BS 15.72  6.3 per cent
Virgin Money 14.57  5.8 per cent
Royal Bank of Scotland 12.87  5.1 per cent
Topaz Finance 10.32  4.1 per cent
Paragon Group 10.31  4.1 per cent
Santander UK 8.27  3.3 per cent
Bank of Ireland 7.47  3 per cent

UK Finance noted that gross buy-to-let lending jumped to £40.5bn in 2018, up by 5.5 per cent on the year before.

It highlighted that with 53 lenders covered in its tables for gross lending, it was clear that “competition in the sector is strong, despite tax changes for landlords and regulatory interventions over the past few years”.

The trade body added that specialist lenders had seen the biggest growth in lending over the year, at around 15 per cent, which UK Finance put down to their “tailored approach to underwriting”. 

Building societies also saw decent growth at around 12 per cent, while bank lending growth came to around 7.5 per cent. Those classed as mid-tier lenders by UK Finance saw lending fall by more than 10 per cent over the year.

 

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