List of Mortgage Lenders

All in all, the overall picture is that in 2009 credit was significantly less than half that of only two years previously - a clear sign of the extent of the changes in a very brief space of time. Effects are mirrored in changes in the list of major lenders in 2009 in comparison to recent years.

The credit volume, both for lenders and for the overall loan portfolio, has been affected by a number of important trends since 2007. This includes the effects of the global downturn and its impact on past credit loss, lower corporate willingness to take risks and changes in consumers' attitude to credit.

In the UK, too, there has been a longer-term change in the structure of refinancing shoulders, which has had a drastic effect on lenders' businesses. A general refinancing scarcity - and a much greater dependence on consumer funds following the near-collapse of large customer financing regimes - has had a significant effect on nondeposit holders who have in the past trusted securitisations.

Increasing pressures to maintain and maintain private customer assets have also resulted in a prudent stance on the part of smaller depositors, particularly in the home savings and loan savings sectors, who are generally unwilling to extend credit until and as long as the inflow of private customer assets is secured. All this has limited variety and competitiveness in the markets and the overall availability of credit.

That is unlikely to happen soon and recent developments are likely to be strengthened by the on-going regulation reform undertaken by the Financial Services Authority as it works on its mortgage benchmark. Recent prudential demands on solvency and equity as well as a more intense prudential approaches to credit have further limited companies' ability and readiness to provide credit by increasing pressure on the markets to keep more equity and resources in cash and to adopt risk-averse credit policies.

As a result, in 2009 companies were active in a rationalised economy, with a high level of credit, powered by a small number of large banking institutions, some of which were fully or partially state-owned. With a few noteworthy examples, the bausparkassen were largely in hibernation, and the non-banks were often in a coma - not able to take on new commitments without accessing new customer financing resources.

Today, these circumstances are still weighing on the mortgage markets and will not be changing as quickly as our recent mortgage financing prospects review highlights. The Chart One shows how the focus on wholesale loans among the biggest companies accelerated in 2009. During the year, the five biggest lenders made up 82% of total lendings, strengthening a tendency triggered by the squeeze, with the rate rising from 64% in 2007 to 64%.

A significant reversal is not expected in the near or distant future and further stabilisation of the markets could help to secure the long-term sustainability of the present patterns. The majority of numbers are presented on a annual base. With the exception of: 3. As far as possible, the total amount of loans is shown without acquired portfolio.

The numbers are round to the next 100 million pounds and ordered on the same base. Where possible, the numbers are presented on the Group' s own merits. Prior year numbers have been restated to take into consideration merger and acquisition activity that took place last year, with the following exceptions: i. The Yorkshire Building Society excludes the Chelsea Building Society, which fused with Yorkshire in April 2010.

Chelsea BS numbers are not available. ii. The numbers for lenders outside CML memberships come from public account information and may not be on a fully similar footing to those of CML members.