HSBC approves £4.9bn of mortgages in Q1

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

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

Earlier this year HSBC confirmed it would be making at least £15bn in mortgages available to UK homeowners in 2012, including £3bn specifically set aside for first time buyers.

Peter Dockar, head of mortgages at HSBC, says:  “We continue to offer UK borrowers some of the most competitive rates around and we remain open for business. Earlier this year we committed to make at least £15bn available and our first three months of the year show that we are already well on our way to achieving this target.”