Lloyds outstrips other big banks in UK’s mortgage lending boom

Tim Wallace
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LLOYDS is the driving force behind Britain’s mortgage boom, financing the recovery in house buying activity, the big four banks’ 2013 financial reports reveal.

In stark contrast to Lloyds’ surging lending data, the other major banks cut lending or held relatively flat.

Lloyds’ gross new mortgage lending came in at £36.9bn in 2013, up 40 per cent on the year.

By contrast RBS’s lending edged up three per cent to £14.3bn, HSBC’s fell 24 per cent to £14.4bn and Barclays’ dropped six per cent to £17.1bn.

And Lloyds’ growth comes from a higher base of mortgages – its stock of outstanding loans comes to £335bn, more than the total UK stock of the other three combined.

Such a position gives Lloyds a 24 per cent share of the market, with Barclays at 9.9 per cent, RBS eight per cent and HSBC 6.4 per cent.