Q1 2026
+19%
February 2026
11,919 debentures vs 9,978 in February 2025 - UK lending market intelligence.
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Market Summary
Year-over-year comparison of debentures registered in February 2026
| Category | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| High Street | 1,690 | 1,918 | 1,758 | 2,375 | +617 | +35% |
| Others | 697 | 776 | 763 | 752 | -11 | -1% |
| Challengers | 619 | 821 | 1,048 | 1,031 | -17 | -2% |
| ABL + Invoice Finance | 455 | 480 | 426 | 437 | +11 | +3% |
| SME Loan providers | 41 | 83 | 153 | 205 | +52 | +34% |
| Asset Finance | 60 | 57 | 61 | 86 | +25 | +41% |
| Large structured lenders | 52 | 24 | 68 | 60 | -8 | -12% |
| R&D Finance | 20 | 11 | 18 | 6 | -12 | -67% |
| Trade Finance | 12 | 17 | 21 | 20 | -1 | -5% |
| Government Supported lender | 58 | 65 | 72 | 54 | -18 | -25% |
| Other SME lending | 698 | 737 | 819 | 868 | +49 | +6% |
| Property specialists | 3,830 | 3,922 | 5,590 | 6,893 | +1,303 | +23% |
| Grand total | 7,534 | 8,174 | 9,978 | 11,919 | +1,941 | +19% |
2026 Year-to-Date
Cumulative debentures January to February 2026 vs same period 2025
| Category | 2025 YTD | 2026 YTD | YoY |
|---|---|---|---|
| High Street | 3,308 | 4,153 | +26% |
| Others | 1,328 | 1,349 | +2% |
| Challengers | 1,951 | 1,810 | -7% |
| ABL + Invoice Finance | 824 | 849 | +3% |
| SME Loan providers | 294 | 386 | +31% |
| Large structured lenders | 116 | 96 | -17% |
| R&D Finance | 28 | 14 | -50% |
| Trade Finance | 35 | 38 | +9% |
| Government Supported lender | 118 | 108 | -8% |
| Other SME lending | 1,527 | 1,628 | +7% |
| Property specialists | 10,359 | 12,111 | +17% |
| Grand total | 18,473 | 21,051 | +14% |
Lender Cohorts
High Street BankHigh Street IFChallenger banksOther banksProperty SpecialistABL + Invoice FinanceLoan providersAsset Finance
High Street Bank
4 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Barclays Bank | 380 | 342 | 515 | 635 | +120 | +23% |
| Lloyds Bank | 345 | 323 | 387 | 672 | +285 | +74% |
| HSBC | 402 | 708 | 390 | 529 | +139 | +36% |
| Natwest | 363 | 370 | 378 | 464 | +86 | +23% |
High Street IF
3 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Lloyds Commercial Finance | 53 | 46 | 47 | 41 | -6 | -13% |
| RBS Invoice Finance | 72 | 44 | 16 | 18 | +2 | +13% |
| HSBC Invoice Finance | 22 | 26 | 25 | 16 | -9 | -36% |
Challenger banks
7 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Aldermore Bank | 236 | 454 | 687 | 608 | -79 | -11% |
| Shawbrook Bank | 272 | 206 | 225 | 233 | +8 | +4% |
| Allica Bank | 51 | 102 | 84 | 109 | +25 | +30% |
| Atom bank | 9 | 23 | 23 | 30 | +7 | +30% |
| Oxbury Bank | 7 | 11 | 9 | 23 | +14 | +156% |
| GB Bank | 1 | 5 | 8 | 16 | +8 | +100% |
| Oaknorth | 58 | 63 | 48 | 25 | -23 | -48% |
Other banks
41 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Handlesbanken | 84 | 97 | 94 | 117 | +23 | +24% |
| Metro Bank | 10 | 16 | 85 | 66 | -19 | -22% |
| United Trust Bank | 31 | 22 | 56 | 48 | -8 | -14% |
| Santander | 83 | 99 | 68 | 53 | -15 | -22% |
| Virgin Money | 19 | 42 | 44 | 39 | -5 | -11% |
| Cambridge & Counties Bank | 16 | 13 | 32 | 33 | +1 | +3% |
| Investec | 36 | 42 | 36 | 25 | -11 | -31% |
| Coutts | 31 | 28 | 40 | 38 | -2 | -5% |
Property Specialist
40 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| The Mortgage Works | 590 | 630 | 931 | 1,133 | +202 | +22% |
| Together Commercial Finance | 346 | 415 | 493 | 696 | +203 | +41% |
| Paragon Bank | 371 | 361 | 430 | 439 | +9 | +2% |
| Kensington Mortgage Company | 52 | 87 | 295 | 411 | +116 | +39% |
| Fleet Mortgages | 279 | 162 | 266 | 364 | +98 | +37% |
| Paratus Amc | 184 | 81 | 261 | 322 | +61 | +23% |
| Onesavings Bank | 209 | 263 | 271 | 320 | +49 | +18% |
| Lendinvest | 63 | 166 | 221 | 308 | +87 | +39% |
ABL + Invoice Finance
25 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Bibby Finance | 54 | 59 | 65 | 70 | +5 | +8% |
| Close Brothers | 93 | 63 | 59 | 47 | -12 | -20% |
| Capital Commercial Finance | 42 | 63 | 38 | 40 | +2 | +5% |
| Apollo Business Finance | 11 | 16 | 21 | 32 | +11 | +52% |
| SYTE | 4 | 11 | 13 | 14 | +1 | +8% |
| Novuna | 21 | 17 | 9 | 24 | +15 | +167% |
| Skipton Business Finance | 20 | 25 | 22 | 18 | -4 | -18% |
| Team Factors | 9 | 18 | 15 | 16 | +1 | +7% |
Loan providers
3 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Bizcap | - | - | 29 | 100 | +71 | +245% |
| CubeFunder | 1 | 15 | 54 | 26 | -28 | -52% |
| Simply Funded | - | 1 | 10 | 4 | -6 | -60% |
Asset Finance
2 lenders
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| Lender | 2023 | 2024 | 2025 | 2026 | Chg | YoY |
|---|---|---|---|---|---|---|
| Lombard | 22 | 22 | 21 | 20 | -1 | -5% |
| HSBC Asset / Equipment Finance | 10 | 3 | 5 | 13 | +8 | +160% |