HSBC mortgage lending figures rise
HSBC mortgage gross lending figures reveal a 12.2 per cent rise in mortgage lending in 2011. The lender reported gross lending of £13.2 billion for 2011 which was up by 12.2 per cent on the £11.8 billion it lent in 2010.
The HBSC mortgage figures released also show their market share of UK gross mortgage lending has reached 9.60 per cent, which is up from 8.75 per cent in 2010. Its pre-tax profit of £1.5 billion for UK business in 2011 is up 17.2 per cent on the year before.
Joe Garner who is head of HBSC UK retail banking commented saying that despite ongoing market challenges, the HSBC used its international strength to lend record amounts.
He added that their net lending grew against a shrinking market and advised that the bank remains committed to helping the economy recover.
Since the beginning of the credit crisis in 2007, the HSBC has managed to increase its mortgage lending to UK home-owners by over 75 per cent.
The bank advises that they fully expect the growth in lending to continue throughout 2012. Indeed the HSBC mortgage pledge to lend £15 billion in 2012, equates to a market share of around 11 per cent. This will help around 150,000 home-owners and 27,000 first-time home buyers.
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