HSBC Commits to Lend Further GBP350Million to High LTV Borrowers This Year
(firmenpresse) - LONDON, UNITED KINGDOM -- (Marketwire) -- 10/17/11 --
HSBC - which has provided a mortgage to one in eight first time buyers (FTBs) during 2011 - today (17th October) commits to making a further GBP 350m available to borrowers with equity or a deposit of 15% or less. A minimum of GBP 250m will be reserved for FTBs in this bracket by the end of the year. Maximum loan to value is 90%.
Even though the number of FTBs in the UK has been under 200,000 in each of the past three years, less than half the 500,000 a year seen previously(i), home ownership is still an aspiration for many people. A recent HSBC survey found that 78% of all non-home owners who have never bought before aspire to be homeowners(ii).
During 2011 HSBC has helped FTBs by offering more competitive rates for customers with a relatively small deposit. As a result, HSBC has already lent more than double the amount to applicants with a 15%-20% deposit in 2011 compared to the whole of 2010.
The support for FTBs continues today with the launch of new high LTV rates. In addition, all 85% and 90% LTV rates will be available fee free.
New mortgage rates for customers with a 10% deposit include:
New rates for customers with a 15% deposit include:
HSBC recognises that the aspiration to be a homeowner continues to be exceptionally strong and one of HSBC's key priorities is to help prospective FTBs.
Peter Dockar, Head of Mortgages at HSBC, said: 'In 2011 we have continued to offer very competitive rates and great advice to those with a relatively small deposit which has helped us to increase the amount we have lent to first time buyers. Today's announcement of fee free rates and a pledge to make a further GBP 250m available to FTBs in 2011 shows HSBCs commitment to continuing to help people get on the housing ladder.'
HSBC Bank plc: HSBC serves 16.1 million customers in the UK and employs approximately 52,000 people. In the UK, HSBC offers a complete range of personal, premier and private banking services including and mortgages. It also provides commercial banking for small to medium businesses and corporate and institutional banking services. HSBC Bank plc is a wholly owned subsidiary of HSBC Holdings plc.
The HSBC Group: HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations.
Contacts:
HSBC
Simon Coughlin
020 7992 1574
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Datum: 17.10.2011 - 05:44 Uhr
Sprache: Deutsch
News-ID 1046330
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