Skip to content

HSBC to lend at least £15 billion to UK mortgage borrowers in 2012

It says that 150,000 home buyers and 27,000 first time buyers are set to benefit as it expects 2012 to see it with its largest ever share of the UK mortgage market.

Of the £15 billion HSBC will be making available for 2012, the majority will be new money into the mortgage market, it added.

‘In 2011 we offered UK borrowers some of the most competitive rates around and we plan to continue this in 2012. While some estimates suggest mortgage lending in the UK will fall this year, HSBC has no intention of closing its doors to customers, nor will we compromise our reputation for responsible lending,’ said Martijn van der Heijden, head of Lending at HSBC.

‘This demonstrates HSBC's commitment to continuing to help people move up or indeed take the first step onto the housing ladder,’ he added.

The bank's 2012 £15 billion mortgage fund will be subject to HSBC's normal credit criteria and lending process to ensure that new lending is appropriate and in the best long-term interests of its customers and shareholders.

More than one in four loans granted by HSBC in the first half of 2011 was to first time buyers, making HSBC the largest direct provider of first time buyer funding in the UK.

The bank points out that it charges no mortgage exit fees and is currently offering a number of market leading mortgage products including a range of fee free lifetime tracker products starting from a rate of 2.49% for those with a 35% deposit and a 3.94% rate for first time buyers with a 10% deposit.