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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.”



Industry must grasp interest-only problem

Martin Wheatley, managing director of the conduct busines unit of the Financial Services Authority, was talking recently at a Treasury Select Committee session about the ticking time bomb of interest-only mortgages and the inability of many people approaching retirement to repay their loans.

Week in numbers

172% – The rise in demand for petrol last Thursday amid fears of a strike, retailer group RMI Petrol reports. 686 – The number of pages in the Finance Bill which passed through Parliament last week. 33 – The average age of Treasury staff compared to a general civil service average of 45, an internal […]


It has been a welcome return to normality after the madness of Budget week – although arguments are still rumbling on over Stamp Duty for those purchasing in company names, and the tax cut for the wealthy supposedly paid for by a bit of granny bashing.

Advice or guidance? That is the question

The Retail Distribution Review (RDR) brought many benefits to the UK pension industry, but it also created an advice gap, resulting in consumers with the smallest funds struggling to access advice at a suitable price By Justin Corliss, Business Development Manager The Financial Advice Market Review (FAMR) produced in March 2016 aims to remedy this, […]


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