With the UK mortgage market expected to shrink in 2012 according to the CML, this commitment by HSBC represents a market share of over 11%, inline with the largest market share the bank has ever had.
In the first half of 2011, HSBC lent a total £6.7 billion in residential mortgages, 35% more than a year previously.
Of the £15 billion HSBC will be making available for 2012, the majority will be new money into the mortgage market, effectively making the bank one of the largest providers of new mortgage funding in the UK.
This commitment will help in the region of 150,000 homeowners and over 27,000 first time buyers.
Martijn van der Heijden, Head of Lending at HSBC, said:
"In 2011 we offered UK borrowers some of the most competitive rates around and we plan to continue this in 2012.
"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.
"Today's announcement to make at least £15 billion available to UK homeowners with £3billion explicitly for first time buyers demonstrates HSBC's commitment to continuing to help people move up or indeed take the first step onto the housing ladder."
The bank's 2012 £15 billion mortgage fund will be subject to HSBC's normal credit criteria and lending process to ensure that new lending is appropriate and in the best long-term interests of its customers and shareholders.
