Largest UK Lenders Losing Grip of Home Loan Market

Wed, 26 Mar 2008

British borrowers are shying away from the nation’s largest lenders in preference for smaller companies as they look for the best deal, new research has suggested. Whereas in 2006, the UK’s top 10 lenders accounted for three quarters of mortgage lending, they now offer just over a quarter of the offers available to borrowers.

With the effects of the subprime crisis continuing to be seen, lenders have reduced the number of deals on offer to consumers, as they look to lower the risk they take with loans and use what capital they have available more wisely. This can be seen in the reduction of loan to value ratios, with Abbey the only major lender to offer 100 per cent loan to value deals.
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