HSBC pledges £15bn in mortgage lending for 2012
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HSBC has pledged to lend at least £15bn in mortgages this year, with £3bn set aside specifically for first-time buyers.
It says this represents a market share of 11%, the largest share it has ever had.
In the first half of 2011, HSBC lent £6.7bn in residential mortgages, 35% more than a year previously.
Martijn van der Heijden, head of lending at HSBC, says: “In 2011 we offered UK borrowers some of the most competitive rates around and we plan to continue this in 2012.
“While some estimates suggest mortgage lending in the UK will fall this year, HSBC has no intention of closing its doors to customers, nor will we compromise our reputation for responsible lending.
“Today’s announcement to make at least £15bn available to UK homeowners with £3bn explicitly for first-time buyers demonstrates HSBC’s commitment to continuing to help people move up or indeed take the first step onto the housing ladder.”
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Readers' comments (2)
AA | 19 Jan 2012 10:04 am
Good news... Hopefully other lenders will follow.
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Bobby | 21 Jan 2012 8:11 am
Thats 15% at the lower estimate of lending in 2012 and 11.5% at the higher end so thats a major force in the market. All lenders let HSBC have a free hand from 2008-2010 when they rolled over and let them boss the market. Also probably most , if not all of these mortgages were done with no advise given.I hope other lenders start to take on HSBCS this year.
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