Halifax is set to lose its position as top dog among the UK's mortgage lenders, it has been revealed.
Results from rival Abbey will reveal that the firm has increased its market share to 25 per cent of all new mortgages in the first half of the year, taking pole position from Halifax, reports the Financial Mail.
In news that might be of interest to those trying to find a mortgage, Abbey's owner Santander is also set to announce profits of around £4.87 billion, up from £3.58 billion for the same period last year.
However, British mortgage lenders are set to perform worse, with total profits for UK banks set to be down by £4 billion, the newspaper points out.
Recently, figures from the British Bankers' Association revealed that gross mortgage lending for June was five per cent lower than in May.
According to the body, the figure represents a new low for gross mortgage lending .
Abbey set to become top mortgage lender
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Abbey set to become top mortgage lender
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