Q3 2025
+12%
August 2025
10,466 debentures vs 9,209 in August 2024 - UK lending market intelligence.
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Market Summary
Year-over-year comparison of debentures registered in August 2025
| Category | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| High Street | 1,857 | 1,859 | 1,773 | 1,819 | +3% |
| Others | 822 | 727 | 755 | 799 | +6% |
| Challengers | 697 | 610 | 864 | 1,000 | +14% |
| ABL + Invoice Finance | 463 | 406 | 419 | 456 | +8% |
| SME Loan providers | 33 | 62 | 209 | 190 | -10% |
| Asset Finance | 58 | 72 | 71 | 58 | -22% |
| Large structured lenders | 120 | 19 | 68 | 23 | -196% |
| R&D Finance | 14 | 11 | 17 | 10 | -70% |
| Trade Finance | 17 | 13 | 13 | 22 | +41% |
| Government Supported lender | 58 | 55 | 72 | 21 | -243% |
| Other SME lending | 763 | 638 | 869 | 780 | -11% |
| Property specialists | 5,574 | 4,463 | 4,948 | 6,068 | +18% |
| Grand total | 9,713 | 8,297 | 9,209 | 10,466 | +12% |
2025 Year-to-Date
Cumulative debentures January to August 2025 vs same period 2024
| Category | 2024 YTD | 2025 YTD | YoY |
|---|---|---|---|
| High Street | 15,245 | 16,789 | +10% |
| Others | 5,942 | 6,874 | +16% |
| Challengers | 6,407 | 8,512 | +33% |
| ABL + Invoice Finance | 3,812 | 3,868 | +1% |
| SME Loan providers | 1,070 | 1,251 | +17% |
| Asset Finance | 488 | 493 | +1% |
| Large structured lenders | 384 | 369 | -4% |
| R&D Finance | 118 | 112 | -5% |
| Trade Finance | 65 | 166 | +155% |
| Government Supported lender | 581 | 463 | -20% |
| Other SME lending | 6,224 | 6,815 | +9% |
| Property specialists | 36,531 | 47,002 | +29% |
| Grand total | 72,166 | 85,992 | +19% |
Lender Cohorts
High Street BankHigh Street IFChallenger banksOther banksProperty SpecialistABL + Invoice FinanceLoan providersAsset Finance
High Street Bank
4 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Barclays Bank | 348 | 402 | 519 | 489 | -6% |
| Natwest | 460 | 340 | 358 | 444 | +19% |
| HSBC | 467 | 592 | 424 | 429 | +1% |
| Lloyds Bank | 405 | 361 | 301 | 366 | +18% |
High Street IF
3 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Lloyds Commercial Finance | 41 | 26 | 43 | 32 | -34% |
| HSBC Invoice Finance | 34 | 20 | 19 | 33 | +42% |
| RBS Invoice Finance | 185 | 487 | 219 | 259 | +15% |
Challenger banks
7 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Aldermore Bank | 257 | 254 | 416 | 575 | +28% |
| Shawbrook Bank | 290 | 212 | 245 | 240 | -2% |
| Allica Bank | 80 | 74 | 134 | 97 | -38% |
| Oaknorth | 47 | 34 | 23 | 26 | +12% |
| Atom bank | 15 | 14 | 34 | 35 | +3% |
| Oxbury Bank | 8 | 9 | 10 | 21 | +52% |
| GB Bank | - | 13 | 1 | 6 | +83% |
Other banks
41 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Metro Bank | 26 | 27 | 47 | 64 | +27% |
| Handlesbanken | 103 | 81 | 79 | 80 | +1% |
| Santander | 111 | 63 | 75 | 108 | +31% |
| United Trust Bank | 30 | 61 | 50 | 33 | -52% |
| Investec | 52 | 41 | 43 | 40 | -8% |
| Virgin Money | 16 | 38 | 45 | 20 | -125% |
| Coutts | 25 | 29 | 36 | 61 | +41% |
| Bank Trustees | 21 | 16 | 38 | 58 | +34% |
Property Specialist
40 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| The Mortgage Works | 945 | 716 | 838 | 987 | +15% |
| Together Commercial Finance | 365 | 351 | 542 | 611 | +11% |
| Paragon Bank | 520 | 440 | 439 | 399 | -10% |
| Kensington Mortgage Company | 168 | 128 | 203 | 391 | +48% |
| Onesavings Bank | 263 | 270 | 223 | 244 | +9% |
| Lendinvest | 149 | 97 | 144 | 279 | +48% |
| Fleet Mortgages | 214 | 241 | 246 | 261 | +6% |
| Paratus Amc | 294 | 99 | 214 | 186 | -15% |
ABL + Invoice Finance
25 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Close Brothers | 79 | 72 | 59 | 47 | -26% |
| Capital Commercial Finance | 51 | 49 | 34 | 47 | +28% |
| Reward Finance Group | - | 9 | 23 | 12 | -92% |
| Time Finance | 14 | 5 | 19 | 28 | +32% |
| Skipton Business Finance | 16 | 20 | 19 | 15 | -27% |
| Apollo Business Finance | 11 | 11 | 12 | 15 | +20% |
| Novuna | 27 | 27 | 16 | 25 | +36% |
| Cynergy Business Finance | 14 | 14 | 9 | 29 | +69% |
Loan providers
3 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Bizcap | - | - | 76 | 62 | -23% |
| CubeFunder | 10 | 6 | 20 | 51 | +61% |
| Simply Funded | - | - | 1 | 12 | +92% |
Asset Finance
2 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Lombard | 13 | 18 | 12 | 8 | -50% |
| HSBC Asset / Equipment Finance | 12 | 6 | 4 | 9 | +56% |