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HSBC approves £4.9billion in UK Mortgages in Q1 2012

Posted on 02 Apr 2012

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

ENDS

Note to Editors 

*Based on 5 days a week
HSBC mortgages are only available directly from HSBC - they are not available from brokers or any other intermediaries.

For further information please contact: 

Suman Hughes
020 7992 2748
suman.hughes@hsbc.com

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New 90% LTV products launched £3 billion lending commitment for first time buyers in 2012  HSBC today confirms its commitment to first time buyers with the launch of competitive new mortgage products for those with a 10% deposit.   HSBC continues to offer a 2 year discount rate of 3.84% for those with a 90% LTV, with no fees to pay. In addition...


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Joe Garner, head of HSBC UK Retail Banking, com020ted: "Despite the ongoing challenging economic conditions, during 2011 HSBC used its unique international strength to lend record amounts to both UK businesses and individual customers, and critically our net lending to businesses grew against a backdrop of a shrinking market.


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