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HSBC’s gross lending increases by £1.6bn in 2010

Gross mortgage lending at HSBC increased to £15.4bn in 2010, up from £13.8bn in 2009.

Its market share of new loans stood at 8.8% while its total mortgage book now equal to 5.2% of UK mortgage lending, a record for HSBC.

Its repossessions were just 1.4% of UK total.

But the average new loan was just 54%LTV, up from 52% in 2009, while for first-time buyers it was 72.1% LTV.

The bank increased its lending to first-time buyers by a whopping 16.7% to £2.7bn last year.

Pre-tax profits for the bank more than doubled from £4.4bn in 2009 to £11.8bn last year but its shares still fell this morning.

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