Q1 2025
+8%
January 2025
8,495 debentures vs 7,853 in January 2024 - UK lending market intelligence.
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Market Summary
Year-over-year comparison of debentures registered in January 2025
| Category | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| High Street | 1,627 | 1,375 | 1,690 | 1,618 | -4% |
| Others | 732 | 517 | 577 | 565 | -2% |
| Challengers | 349 | 562 | 641 | 903 | +29% |
| ABL + Invoice Finance | 340 | 336 | 412 | 398 | -4% |
| SME Loan providers | 8 | 37 | 84 | 141 | +40% |
| Asset Finance | 60 | 59 | 67 | 51 | -31% |
| Large structured lenders | 61 | 54 | 41 | 48 | +15% |
| R&D Finance | 2 | 10 | 17 | 10 | -70% |
| Trade Finance | 5 | 10 | 5 | 14 | +64% |
| Government Supported lender | 49 | 31 | 49 | 51 | +4% |
| Other SME lending | 520 | 577 | 765 | 713 | -7% |
| Property specialists | 3,471 | 3,888 | 3,371 | 4,696 | +28% |
| Grand total | 7,490 | 7,635 | 7,853 | 8,495 | +8% |
2025 Year-to-Date
Cumulative debentures January to January 2025 vs same period 2024
| Category | 2024 YTD | 2025 YTD | YoY |
|---|---|---|---|
| High Street | 1,690 | 1,618 | -4% |
| Others | 577 | 565 | -2% |
| Challengers | 641 | 903 | +41% |
| ABL + Invoice Finance | 412 | 398 | -3% |
| SME Loan providers | 84 | 141 | +68% |
| Asset Finance | 67 | 51 | -24% |
| Large structured lenders | 41 | 48 | +17% |
| R&D Finance | 17 | 10 | -41% |
| Trade Finance | 5 | 14 | +180% |
| Government Supported lender | 49 | 51 | +4% |
| Other SME lending | 765 | 713 | -7% |
| Property specialists | 3,371 | 4,696 | +39% |
| Grand total | 7,853 | 8,495 | +8% |
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 | 385 | 316 | 337 | 450 | +25% |
| Lloyds Bank | 404 | 283 | 324 | 378 | +14% |
| HSBC | 356 | 355 | 586 | 350 | -67% |
| Natwest | 346 | 282 | 326 | 349 | +7% |
High Street IF
3 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Lloyds Commercial Finance | 21 | 32 | 26 | 46 | +43% |
| RBS Invoice Finance | 19 | 40 | 19 | 24 | +21% |
| HSBC Invoice Finance | 31 | 15 | 19 | 21 | +10% |
Challenger banks
7 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Aldermore Bank | 102 | 229 | 334 | 522 | +36% |
| Shawbrook Bank | 169 | 244 | 143 | 216 | +34% |
| Allica Bank | 41 | 61 | 92 | 84 | -10% |
| Oaknorth | 17 | 15 | 43 | 36 | -19% |
| Atom bank | 6 | 4 | 18 | 25 | +28% |
| Oxbury Bank | 13 | 9 | 8 | 11 | +27% |
| GB Bank | - | - | 3 | 9 | +67% |
Other banks
41 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Metro Bank | 23 | 13 | 17 | 86 | +80% |
| Handlesbanken | 83 | 85 | 58 | 72 | +19% |
| Coutts | 25 | 32 | 19 | 40 | +53% |
| Santander | 89 | 73 | 61 | 34 | -79% |
| United Trust Bank | 17 | 26 | 22 | 33 | +33% |
| Bank Trustees | 16 | 20 | 23 | 32 | +28% |
| Virgin Money | - | 16 | 33 | 29 | -14% |
| Investec | 61 | 14 | 66 | 22 | -200% |
Property Specialist
40 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| The Mortgage Works | 515 | 608 | 432 | 749 | +42% |
| Together Commercial Finance | 247 | 287 | 435 | 463 | +6% |
| Paragon Bank | 453 | 481 | 294 | 432 | +32% |
| Lendinvest | 129 | 52 | 100 | 243 | +59% |
| Onesavings Bank | 145 | 244 | 219 | 238 | +8% |
| Kensington Mortgage Company | 164 | 62 | 82 | 235 | +65% |
| Paratus Amc | 240 | 190 | 80 | 201 | +60% |
| Fleet Mortgages | 104 | 263 | 153 | 197 | +22% |
ABL + Invoice Finance
25 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Close Brothers | 60 | 57 | 47 | 68 | +31% |
| Bibby Finance | 44 | 40 | 60 | 31 | -94% |
| Capital Commercial Finance | 21 | 26 | 35 | 27 | -30% |
| Skipton Business Finance | 11 | 20 | 18 | 21 | +14% |
| Leumi ABL | 8 | 5 | 2 | 21 | +90% |
| Time Finance | 9 | 6 | 20 | 19 | -5% |
| Quba solutions | 14 | 4 | 11 | 17 | +35% |
| Reward Finance Group | - | 16 | 30 | 16 | -88% |
Loan providers
3 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Bizcap | - | - | - | 34 | +100% |
| CubeFunder | - | 3 | 22 | 20 | -10% |
| Simply Funded | - | - | - | 14 | +100% |
Asset Finance
2 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Lombard | 11 | 10 | 13 | 11 | -18% |
| HSBC Asset / Equipment Finance | 9 | 9 | 4 | 5 | +20% |