HBOS intends to retain a 20% share of the UK mortgage market following news that Abbey and HSBC have achieved a 25% stake through a recent surge in demand for their products.

Mr. Cammy Amaira, director of sales for IF (Intelligent Finance) said “HBoS wants to do one in five mortgages this year….we want to have that market share”.

Lenders announcing they intend to remain competitive throughout these changing times can only be good news for consumers.

If despite rate rises the UK’s mortgage providers are doing what they can to secure business borrowers may start to see a degree of stability for a while.

According to UK swap rates the cost of borrowing between banks has only crept up slightly since actually dropping by 0.2% a few weeks ago.