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HSBC mortgage lending reaches £16.4bn in 2012

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HSBC’s gross mortgage lending grew 24 per cent to £16.4bn in 2012, up from £13.2bnin 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, as £19.5bn was approved for UK borrowers.

The lender 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.”

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  1. As HSBC is getting this money at practically zero cost from the BoE, then it is good business.

    And props up house prices, which may or may not be a good thing.

    Personally, I think house prices should not be so far out of line with (average) earnings but some might argue that that is now a redundant model?

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