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HSBC approves record £4.9bn in Q1

HSBC approved £4.9bn in mortgages in the first three months of 2012 – 9% more than a year ago and the highest quarterly amount it has ever approved.

Of this figure, £1.2bn was approved for first-time buyers – an annual rise of 18% and an average of £93m per week or £19m per day.

Earlier this year the bank confirmed it would be making at least £15bn in mortgages available to home owners in 2012, including £3bn for first-time buyers.

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Secured loans a good fit for raising capital

Every dark cloud has a silver lining, so I urge all brokers to take heart in the wake of a number of lenders withdrawing from interest-only loans or reducing the LTV they will permit for interest-only.

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