17
Jul
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."