The HSBC announced in January that it would be making at least £15 billion in mortgages available to UK homeowners in 2012, including £3 billion for first time buyers. It has been revealed that by the end of March HSBC had already approved £4.9 billion in mortgages to UK borrowers. £1.2 billion of this was approved to first time buyers.
In the five months between 1st January and 28th May 2012, HSBC approved more than 15,000 first time buyer mortgages. This is already more than half the 27,000 that HSBC targeted for the year.
Peter Dockar, Head of Mortgages at HSBC commented:
“We are committed to helping UK borrowers with the aspiration to own their own home and continue to offer competitive rates to both first time buyers and existing homeowners.”
HSBC has also recently raised the maximum loan to value on new build property to 85%.
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