HSBC approves £4.9billion in UK Mortgages in Q1 2012
By Bridging Loan Directory -
HSBC today reveals that it approved £4.9 billion in mortgages to UK borrowers 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, £1.2 billion was approved for first time buyers, an annual increase of 18% and an average of £93 million per week or £19 million per day*. This means that HSBC has agreed to help over 10,000 borrowers take their first steps onto the property ladder; an average of 780 first time buyers per week or 160 per day in Q1 2012.
Earlier this year HSBC confirmed it would be making at least £15 billion in mortgages available to UK homeowners in 2012, including £3 billion specifically set aside for first time buyers.
Peter Dockar, Head of Mortgages at HSBC, commented: “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 £15 billion available and our first three months of the year show that we are already well on our way to achieving this target.”
About HSBC Mortgages
- HSBC was voted Best High Street Mortgage Provider and First Time Buyers’ Mortgage Choice by Moneyfacts in January 2012
- HSBC was recognised as Best Mortgage Provider of 2011 by Moneysupermarket.com.
- In 2011 HSBC lent to 1 in 7 first time buyers, or 1 in 3 of those who chose to go direct to a lender
HSBC is currently offering a number of market-leading mortgage products including:
- A range of fee-free lifetime tracker products starting from a rate of 2.19% above base rate (currently 2.69%) for those with a 40% deposit
- A sub-4% rate for FTBs with a 10% deposit – 3.84% on a 2 year discount mortgage with no fees to pay