17 Jul

HSBC improves mortgage lending

HSBC improves mortgage lending

More first-time buyers could soon find themselves able to take their first step onto the property ladder thanks to improved lending conditions from HSBC.

In recent months and years, banks have been closely scrutinising who they lend to, but it is now the case that HSBC has started to spend more throughout 2012.

In the first half of the year, the bank revealed that it had provided £10.6 billion in mortgage approvals for home purchases. This was an increase of 16 per cent when compared to last year.

The bank also said that £2.7 billion of this lending was handed down to first timers, with some 23,000 new homeowners being assisted in the first six months of the year.

Peter Dockar, head of mortgages at HSBC, said: "At a time when many other lenders are contracting their lending, we remain committed to helping more customers who aspire to own their own home and we approved a record number of mortgages in the first half of this year."ADNFCR-1222-ID-801409527-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.