The three big Dutch banks provided fewer than 50% of new mortgages in the third quarter of this year, the Financieele Dagblad says on Monday, quoting research by consultancy IG&H.

At the beginning of the year, ING, ABN Amro and Rabobank were responsible for 60% of new mortgages, the consultancy said. Before the credit crisis began in 2008, the big three banks controlled 75% of the Dutch mortgage market.

Rabobank, which had been the biggest mortgage provider in the country for years, has seen its share cut from 33% to 17%, the FD says. This is roughly in line with ABN Amro and ING.

The big three banks are still providing the same volume of mortgages in euro terms but have not been able to take advantage of increasing demand, the FD says. Insurance companies and alternative mortgage providers have been stepping in to fill the gap.