Friday, 20 October 2017

Small names gaining on mortgage ‘big six’

NEARLY eight out of 10 mortgages are issued by just six big lenders, including Halifax and

NEARLY eight out of 10 mortgages are issued by just six big lenders, including Halifax and HSBC, according to Christopher Woolard, the Financial Conduct Authority’s director of strategy and competition.

However, according to many agents, smaller names are starting to make their mark, including Accord, Scottish Widows and Tesco Bank.

Figures from local agents reveal the extent of this on a local scale, with Romans saying that in the first nine months of 2013, 71 per cent of mortgage lending via the agency was via five of the main players, while in 2015 this has dropped to 60 per cent.





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