View more on these topics

HSBC mortgage lending increases 24%

HSBC 480

HSBC’s gross mortgage lending grew 24 per cent to £16.4bn in 2012, up from £13.2bn in 2011.

The direct-only lender’s market share in terms of mortgage approvals rose 2 per cent from 11.6 per cent in 2011 to 13.6 per cent last year.

A total of £19.5bn was approved for UK borrowers, representing a 20 per cent increase on the £16.2bn approved in 2011.

The lender says it approved four out of five first-time buyer applications, helping 40,500 new borrowers over the course of the year. A total of £5bn was lent to FTBs, representing a 32 per cent increase on £3.8bn in 2011.

HSBC UK head Antonio Simoes says: “Last year we continued to increase lending to both our business and individual customers, and our mortgage market share has continued to grow. We are committed to helping the UK economy recover by continuing to support our customers through the coming years.”

London and Country head of communications David Hollingworth says: “HSBC has been very aggressive in its pricing and so it would be surprising if that had not filtered through into the lending figures.

“It has continued to offer products up to 90 per cent LTV and shown a commitment to first-time buyers as well. You would expect it to have completed a decent amount of business on that side.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm