In January, HSBC confirmed it would be making at least £15 billion in mortgages available to UK homeowners in 2012, including £3 billion specifically set aside for first time buyers. By the end of March, HSBC had already approved £4.9 billion in mortgages to UK borrowers, with £1.2 billion of this approved to first-time buyers.
Peter Dockar, Head of Mortgages at HSBC, commented:
"We are committed to helping UK borrowers with the aspiration to own their own home and continue to offer competitive rates to both first time buyers and existing homeowners."
About HSBC Mortgages
- In 2011, 4 out of 5 first time buyer applicants were approved for a HSBC mortgage
- HSBC had more Best Buy mentions for 90% LTV mortgages than any other lender in 2011 (Moneysupermarket)
- HSBC has been recognised as Best Bank Mortgage Provider by Moneyfacts for the last four years in a row
-HSBC has been voted First Time Buyers Mortgage Choice for the past two years at the Consumer Moneyfacts awards
- HSBC was recently voted Best First Time Buyer Mortgage Provider by both Moneyfacts and Moneywise
HSBC is currently offering a number of market-leading mortgage rates for borrowers with a 10% deposit including:
- 2 year discount rate of 3.84% with no fee
- Lifetime tracker rate of 4.79% with a £999 booking fee
- 2 year fixed rate of 4.99% with a £599 booking fee
To further help those with a smaller deposit, HSBC has today raised the maximum loan to value on new build property to 85%, allowing those with a 15% deposit to apply for a mortgage against a new build property.
