Nationwide steals RBS mortgage market share
Nationwide Building Society has overtaken state-backed lender Royal Bank of Scotland in terms of mortgage market share, figures have revealed.
Data from the Council of Mortgage Lenders for 2011 showed Nationwide had become the third largest mortgage lender, up from fifth place in 2010, overtaking RBS.
Nationwide moved to third, alongside Barclays. Both had 12.1 per cent market share, while RBS had 10.4 per cent
Lloyds Banking Group remained on top with 19.9 per cent market share, which dropped from 22.2 per cent in 2010.
Santander was second with 16.8 per cent market share, although down from 17.9 per cent.
HSBC was sixth, overtaking Northern Rock.
A statement from the CML said: “The six largest lenders advanced mortgages worth £113.8bn in 2011, compared with £110.8bn in the preceding year.
“However, despite increasing their amount of lending in absolute terms, their share of the total advanced showed a modest decline in 2011 from 81.9 per cent in 2010 to 80.7 per cent last year.”