Last year saw Lloyds Banking Group suffer a fall in its share of the mortgage market.
Lloyds revealed that the number of its mortgage customers who were more than three months behind on their payments was near 80,000.
The group told The Guardian that its share of new lending had fallen to 24 per cent from 31 per cent a year ago. 2.3 per cent of Lloyds customers are now struggling to keep up with their payments this year.
The bank has seen a small improvement in the number of customers with properties in negative equity. Twelve per cent of customers with conventional mortgages owed more on their houses than they were worth at the end of the year, compared with 15 per cent a year ago. Some 16 per cent of buy-to-let customers were in the same position compared with 21 per cent a year ago.
The number of homes on its books has gone down to 2,720 which is a 32 per cent drop. This has caused Lloyds to seemingly shift some of their properties gained by repossession, saying that ?average proceeds from the sale of repossessed properties are in excess of average valuations assumed in provisioning models.?
The Guardian reports that the overall size of the market also fell from ?254 billion to ?143 billion in 2008. This has lead to Lloyds seeing their outstanding mortgage balances fall by ?3.7 billion and Gross new mortgage lending at ?35 billion ? ?78 billion less then it was in 2008
