Q3 2025
+17%
July 2025
12,111 debentures vs 10,100 in July 2024 - UK lending market intelligence.
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Market Summary
Year-over-year comparison of debentures registered in July 2025
| Category | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| High Street | 1,998 | 1,653 | 2,072 | 2,434 | +15% |
| Others | 834 | 756 | 911 | 885 | -3% |
| Challengers | 664 | 618 | 882 | 1,108 | +20% |
| ABL + Invoice Finance | 397 | 446 | 527 | 597 | +12% |
| SME Loan providers | 35 | 58 | 234 | 164 | -43% |
| Asset Finance | 75 | 70 | 71 | 80 | +11% |
| Large structured lenders | 51 | 23 | 54 | 41 | -32% |
| R&D Finance | 4 | 22 | 11 | 15 | +27% |
| Government Supported lender | 55 | 75 | 79 | 72 | -10% |
| Other SME lending | 520 | 577 | 765 | 1,000 | +24% |
| Property specialists | 5,610 | 4,422 | 5,618 | 6,684 | +16% |
| Grand total | 9,629 | 8,169 | 10,100 | 12,111 | +17% |
2025 Year-to-Date
Cumulative debentures January to July 2025 vs same period 2024
| Category | 2024 YTD | 2025 YTD | YoY |
|---|---|---|---|
| High Street | 13,472 | 14,970 | +11% |
| Others | 5,187 | 6,075 | +17% |
| Challengers | 5,543 | 7,512 | +36% |
| ABL + Invoice Finance | 3,393 | 3,412 | +1% |
| SME Loan providers | 861 | 1,061 | +23% |
| Asset Finance | 417 | 435 | +4% |
| Large structured lenders | 316 | 346 | +9% |
| R&D Finance | 101 | 102 | +1% |
| Trade Finance | 52 | 144 | +177% |
| Government Supported lender | 509 | 442 | -13% |
| Other SME lending | 5,355 | 6,035 | +13% |
| Property specialists | 31,583 | 40,934 | +30% |
| Grand total | 62,957 | 75,526 | +20% |
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 | 357 | 327 | 422 | 632 | +33% |
| Natwest | 421 | 359 | 449 | 627 | +28% |
| HSBC | 625 | 421 | 504 | 674 | +25% |
| Lloyds Bank | 406 | 385 | 484 | 409 | -18% |
High Street IF
3 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Lloyds Commercial Finance | 44 | 42 | 69 | 25 | -176% |
| RBS Invoice Finance | 26 | 27 | 32 | 24 | -33% |
| HSBC Invoice Finance | 40 | 29 | 24 | 43 | +44% |
Challenger banks
7 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Aldermore Bank | 206 | 250 | 417 | 632 | +34% |
| Shawbrook Bank | 293 | 216 | 251 | 271 | +7% |
| Allica Bank | 65 | 90 | 110 | 102 | -8% |
| Oaknorth | 77 | 27 | 57 | 50 | -14% |
| Atom bank | 16 | 12 | 25 | 29 | +14% |
| GB Bank | - | 3 | 5 | 7 | +29% |
| Oxbury Bank | 64 | 87 | 71 | 135 | +47% |
Other banks
41 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Metro Bank | 41 | 15 | 17 | 93 | +82% |
| Handlesbanken | 117 | 91 | 111 | 102 | -9% |
| Santander | 87 | 79 | 106 | 74 | -43% |
| United Trust Bank | 35 | 58 | 52 | 37 | -41% |
| Investec | 50 | 45 | 81 | 39 | -108% |
| Virgin Money | 5 | 55 | 103 | 35 | -194% |
| Coutts | 27 | 62 | 31 | 35 | +11% |
| Bank Trustees | 29 | 26 | 31 | 43 | +28% |
Property Specialist
40 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| The Mortgage Works | 931 | 765 | 874 | 1,094 | +20% |
| Together Commercial Finance | 423 | 379 | 648 | 657 | +1% |
| Paragon Bank | 478 | 481 | 506 | 451 | -12% |
| Kensington Mortgage Company | 207 | 131 | 133 | 401 | +67% |
| Onesavings Bank | 264 | 247 | 256 | 294 | +13% |
| Lendinvest | 173 | 95 | 167 | 282 | +41% |
| Fleet Mortgages | 156 | 226 | 241 | 278 | +13% |
| Paratus Amc | 324 | 57 | 194 | 215 | +10% |
ABL + Invoice Finance
25 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Close Brothers | 54 | 90 | 90 | 83 | -8% |
| Bibby Finance | 52 | 44 | 74 | 95 | +22% |
| Capital Commercial Finance | 19 | 29 | 39 | 46 | +15% |
| Reward Finance Group | - | 17 | 24 | 30 | +20% |
| Skipton Business Finance | 13 | 14 | 24 | 11 | -118% |
| Time Finance | 14 | 7 | 12 | 25 | +52% |
| Apollo Business Finance | 7 | 13 | 10 | 22 | +55% |
| Ultimate Finance | 7 | 10 | 11 | 19 | +42% |
Loan providers
3 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Bizcap | - | - | 95 | 52 | -83% |
| CubeFunder | 10 | 10 | 30 | 43 | +30% |
| Simply Funded | - | - | - | 7 | +100% |
Asset Finance
2 lenders
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| Lender | 2022 | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|---|
| Lombard | 12 | 10 | 14 | 16 | +13% |
| HSBC Asset / Equipment Finance | 5 | 13 | 4 | 12 | +67% |