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HSBC increases mortgage funding to £15bn

HSBC Holdings is looking to increase its share of the UK mortgage market by boosting its available mortgage funding by 20% to £15bn next year.

The amount is up 20% from the £12.8bn mortgage funding seen this year and is almost twice the £7.8bn provided by the bank in 2007.

HSBC is hoping the funding boost will see its market share go from the current 4% to 5%.

The bank has also pledged to make another £1bn available to small business customers in the UK.

Paul Thurston, managing director of HSBC UK, says: “By some estimates net mortgage lending in the UK will fall next year.

“But HSBC has no intention of closing its doors to customers, nor will we compromise our reputation for responsible lending. We remain open for business to the tune of £15bn.”


Naked truth

Mole was sent the mystery snaps reproduced below by the son of a certain well known industry pundit. To spare his blushes, Mole is not going to print his name but with kids like this he’s obviously no family guy.

My client is stuck between Rock and hard place

My client is an existing Northern Rock customer who wished to port her flexible fixed rate deal to avoid a 3% early repayment charge. The product is competitive at 5.69%.

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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