UK mortgage approvals at HSBC are on the increase, it has been revealed.
The bank announced it advanced £4.9 billion in home loans to borrowers in the first quarter of 2012, representing a nine per cent rise on the number recorded a year earlier.
This figure was the highest amount ever reported for a three-month period – and £1.2 billion of it related to the dealings of first-time buyers (FTBs).
As such, this indicated an annual increase of 18 per cent, which calculated at £93 million per week for FTBs or £19 million each day.
More than 10,000 individuals have therefore been assisted by the bank in their attempts to enter the property market, with around 780 FTBs helped every seven days.
Peter Dockar, head of mortgages at HSBC, said the bank remains open for business and continues to offer some of the industry’s best deals.
He stated: “Earlier this year we committed to make at least £15 billion available and our first three months of the year show that we are already well on our way.”
