2 Mar

Bank aims to lend more

Bank aims to lend more

HSBC has revealed plans to increase its mortgage lending in the UK market over the course of 2009.

The lender - which has suffered less than other institutions in the credit crunch as it does not rely on wholesale financial markets - has revealed it is setting aside £15 billion for mortgages this year.

A spokesman for HSBC commented that the bank should achieve a "bigger slice" of the market over the course of this year.

The move may be good news for those seeking mortgage finance and hoping to be able to find the finance to get on the housing ladder or invest in property.

In further mortgage news, Nationwide has announced the launch of three new mortgage products.

The building society is offering a two-year tracker deal from 3.63 per cent and a three-year product at 3.58 per cent, both of which have a maximum loan-to-value (LTV) of 75 per cent.

It has also devised a five-year fixed rate deal at a maximum LTV of 85 per cent at 4.98 per cent.

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