HSBC has approved over £10.6 billion (S$20.83 billion) worth of UK mortgages in 1H2012, up 16 percent over the same period last year and includes over £2.7 billion (S$5.3 billion) worth of loans for first-time purchases.
This is in line with the bank’s commitment to make at least £15 billion (S$29.47 billion) of mortgage funding available to UK homeowners this year, including the £3 billion (S$5.89 billion) specifically allocated for first-timers.
As of June, the lender has approved over two-thirds of the said amount and has pledged to increase it by £2 billion (S$3.93 billion), including a further £1 billion (S$1.96 billion) for first-time purchases.
“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,” said Peter Dockar, Head of Mortgages at HSBC.
“So we can help an increasing number of customers finance their homes we are extending our mortgage funding pledge by an extra £2 billion (S$3.93 billion), meaning HSBC will make at least £17 billion (S$33.4 billion) available to UK homeowners this year,” he added.
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