15,000 HSBC mortgage deals have been approved for first time buyers.
HSBC mortgage approvals in the first time buyer sector are looking very positive. The lender has just announced the approval of over 15,000 first time loans during the period between January to May this year.
Back in January an HSBC mortgage pledge was made to set aside £3 billion in loans for the first time buyer sector. Incredibly by the last week of March HSBC had approved £1.2 billion in loans to first-time property buyers.
Peter Dockar who is HSBC Head of Mortgages commented saying that the high street lender is highly committed to helping first time buyers with their home owning aspirations. He added that the bank is planning to continue to offer low rates to all sectors of the property market.
He went on to say that during 2011 80% of all first-time loan applications were approved, and added that the lender currently offers various market leading mortgage rates for low deposit buyers.
An HSBC mortgage is available for a 2 year term at a discounted rate of 3.84% with no fee, and a 2 year non-discounted fixed rate is available at 4.99% with a £599 fee. HSBC has also announced that it is raising its maximum LTV for new builds to 85%.
For a competitive mortgage quote contact Deal Direct today.
