Nationwide has reported that their mortgage lending has slipped 40% in the last year, as the building society struggles to tempt consumers into taking out their products.
The group say that they are targeting quality mortgage lending and aren't concerned that their overall market share has slumped to 7% from 11% in the previous year.
All lender and brokers in the UK are set to report lower profits on previous years, with the credit crunch deterring many first time buyers from getting on the property ladder.