HSBC has announced it is to lend a helping hand to UK mortgage borrowers by making £15 billion available to those looking to secure a home loan deal.
As part of the drive, £3 billion will be placed to one side in order to assist first-time buyers.
The move marks a significant increase in this type of outlay by the bank, which lent a total of £6.7 billion in residential mortgages across 2011 – with this figure itself a 35 per cent mark up on that recorded 12 months earlier.
Martijn van der Heijden, head of lending at HSBC – which first began operations in Hong Kong in 1865 – noted the company plans to continue providing the competitive rates in 2012 that it offered last year, adding: “While some estimates suggest mortgage lending in the UK will fall this year, HSBC has no intention of closing its doors to customers, nor will we compromise our reputation for responsible lending.”
He observed the announcement to make extra funds available demonstrates the bank’s commitment to helping people step onto the property ladder and climb the rungs.
