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HSBC pledges £15bn in mortgage lending for 2012

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HSBC has pledged to lend at least £15bn in mortgages this year, with £3bn set aside specifically for first-time buyers.

It says this represents a market share of 11 per cent, the largest share it has ever had.

In the first half of 2011, HSBC lent £6.7bn in residential mortgages, 35 per cent more than a year previously.

HSBC head of lending Martijn  van der Heijden says: “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.

“Today’s announcement to make at least £15bn available to UK homeowners with £3bn explicitly for first-time buyers demonstrates HSBC’s commitment to continuing to help people move up or indeed take the first step onto the housing ladder.”

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Readers' comments (2)

  • Even if they have Section 106 occupancy restrictions?

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  • Is that net lending?

    No point in lending £15billion to new customers whilst calling in £20billion of loans for existing customers as this is £5billion out of the economy.

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