Top 10 Mortgage Lenders in UK
In the UK, mortgages are repaid by fixed installments. They are usually paid monthly over a long period, just like a loan. Mortgages in the UK provide home buyers with an opportunity to purchase property that would otherwise be out of reach or have little chance of being afforded as renters. A mortgage is an attractive option for people looking to buy their first house and those who already bought one. There are many things to consider when selecting a mortgage lender; here are some of the most trusted mortgage lenders in UK.
Lloyds Banking Group (including Halifax and Scottish Widows)
Lloyds Banking Group Plc is a financial services group that provides a wide range of banking and financial services. It comprises four main brands: Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows. The company offers products and services to personal and business customers through its main subsidiary banks and other brands.
Services offered: Lloyds Bank and Bank of Scotland offer various retail banking services, including current accounts, savings accounts, mortgages, loans, and credit cards.
Total Assets: 886.5 billion GBP
Employees: 58,000
Branches: 700
Nationwide BS
Nationwide building society (BS) is the UK's largest building society and the world's largest mutual financial institution. In 2013, it had almost 254.9 billion British pounds in assets under management and a customer base of over 15 million. It offers a wide range of products and services, including banking, mortgages, investment management, life insurance, and pensions.
Founded in 1846 as the Northamptonshire Permanent Benefit Building Society, it has its headquarters in Swindon and branches in most of England and Wales. It employs 18,333 people in 700 branches.
NatWest Group (including Royal Bank of Scotland)
NatWest Group (formerly known as The Royal Bank of Scotland Group) is a British banking and insurance holding company based in Edinburgh, Scotland.
The bank, headquartered in Edinburgh, offers current accounts, savings, mortgages, loans, and credit cards. It also provides investment banking services, such as debt capital markets origination and equity capital markets advisory.
Total Assets: £781.992 billion (2021)
Employees: 59,200
Branches: 960
Santander UK
Santander UK is a financial and banking services company that is part of the Santander Group, one of the largest banking groups in the world. Santander UK has around 450 branches and employs over 25,872 people. It serves around 14 million customers, both personal and business.
Santander UK's activities include retail banking, commercial banking, corporate finance, and asset management. Its products and services include current accounts, savings accounts, mortgages (loans), and loans to small-to-medium-sized businesses.
Total Assets: US$1.4 trillion
Barclays
Barclays is headquartered in London and has a major presence in the UK, employing around 83,500 people. But we’re also a truly international bank, with offices and operations in more than 50 countries.
In the UK, Barclays offers several products and services to personal customers, from savings accounts, insurance, and credit cards to current accounts, loans, and mortgages – as well as a range of investment options for all levels of experience.
Total Assets: 1.384 trillion GBP
Branches: 4,750
HSBC Bank (including First Direct)
HSBC traces its origin to a hong in British Hong Kong, and its present fo
rm was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991. The bank's origins lie mainly in Hong Kong and to a lesser extent in Shanghai, where branches were first opened in 1865.
HSBC provides a comprehensive range of financial services: retail banking, wealth management; commercial banking; global banking and markets (investment banking); private banking; global private banking, trade services, treasury services, payment, and cash management, foreign exchange, and securities services.
Total Assets: 2.98 trillion U.S. dollars
Employees: 226,059 (2020)
Branches: 470
Virgin Money Plc (including Clydesdale and Yorkshire Banks)
Virgin Money Plc (including Clydesdale and Yorkshire Banks) is a UK-based banking, insurance, and financial services company. Its operations are categorized into four business segments: retail banking, commercial banking, insurance, and investment management.
The bank offers customers a range of financial products, including savings accounts, credit cards, loans, and mortgages. It provides saving products such as ISAs and regular savings accounts; credit cards to suit different needs; current accounts with basic banking services; loans for buying a car or moving home; mortgages for first-time buyers or those wishing to remortgage; ISAs, investment bonds, pensions, and life insurance. It also provides personal loans that help pay off existing debts purchase a car, or holiday.
Coventry BS
Coventry BS was founded in 1870 and headquartered in Coventry, U.K. It has total assets of GBP 53.4 billion and provides banking services to more than two million customers in the U.K.
The bank offers current accounts, savings accounts, mortgages, loans, and financial advice to customers across the U.K., as well as insurance for home, car, and travel. The bank has 2,800 employees and over 89 branches nationwide, a network of cash machines, online banking, and telephone banking service to help its customers with their financial requirements.
Yorkshire BS
Yorkshire Building Society (Yorkshire Bank parent company) is a British mutual financial institution headquartered in Bradford and administration offices in Holborn Bars, London. It is the second-largest building society in the UK.
Yorkshire BS provides financial services to individuals and businesses. It offers savings products; mortgages, such as first-time buyer mortgages, remortgaging mortgages, moving home mortgages, buy-to-let mortgages, equity release mortgages; protection products; insurance products; and commercial lending products.
Total Assets: £44.3 billion
Employees: 3,300
Branches: 132-strong branch network and 99 associated agencies across the UK.
TSB Bank
TSB Bank is headquartered in Edinburgh, Scotland. The company was established in 1810 as the Trustee Savings Bank. TSB Bank has assets in the amount of 42,422.40 mln GBP and provides banking services to more than 3.2 million customers.
TSB Bank offers retail banking services. The company provides current accounts, savings accounts, mortgages, credit cards, personal loans, and insurance products. TSB Bank also provides business banking services to small businesses.
Employees: 7,000
Branches: 290
FAQs
Q. Who is the fastest mortgage lender UK?
A. HSBC is currently the fastest mortgage lender, with a median approval time of just ten days for mortgages. Previously, Barclays had been the fastest lender with an average approval time of 10 days during September 2020, but processing times have now risen to 19 days.
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