HSBC approves £10.6bn of UK mortgages in H1 2012
Lender extends lending commitment by an extra £2bn, meaning it will lend at least £17bn this year.
HSBC today (16 July) revealed that it approved more than £10.6bn in mortgages in the first six months of 2012, an increase of over 16 per cent on the same period in 2011, with more than £2.7bn of this relating to first-time purchases.
In January, HSBC confirmed it would be making at least £15bn of mortgage funding available to UK homeowners in 2012, including £3bn specifically set aside for first-time buyers.
By the end of June, HSBC had approved more than two thirds of this figure. HSBC said it is extending this commitment with an additional £2bn for UK borrowers, taking the total for the year to at least £17bn, including a further £1bn for first-time buyers.
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.
“So we can help an increasing number of customers finance their homes we are extending our mortgage funding pledge by an extra £2bn, meaning HSBC will make at least £17bn available to UK homeowners this year.”