View more on these topics

HSBC pledges £15bn in mortgage lending for 2012

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.”


No loss, no fee rule would curb ambulance chasers

I was interested to read last week that the Financial Ombudsman Service is planning to increase the number of free cases that businesses are allowed from three to 25 in 2013.

Peter Williams

Reforms will bring winners and losers

We recently set out our forecast of £130bn of gross lending, slightly down on 2011, but at least there is a likelihood of falling inflation and stable interest rates.

Santander unveils RMBS transaction

Santander has issued a residential mortgage-backed security backed by £4.5bn worth of loans. The deal is the 20th issuance from its Holmes Master Trust programme and comprises mortgages with an average LTV of 66.2%. Moody’s has assigned the transaction a AAA rating and an expected portfolio loss of 1%, which it says is in line […]


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Bobby 21st January 2012 at 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.

  • AA 19th January 2012 at 10:04 am

    Good news… Hopefully other lenders will follow.