HSBC to provide £15 billion in mortgages

HSBC to provide £15 billion in mortgages

HSBC hopes to take the largest market share of mortgages that the bank has ever had by making £15 billion available for UK homeowners in 2012, with help for first-time buyers.

 

This sum is expected to increase HSBC’s market share of mortgages to c. 11%. The bank lent £6.7 billion in residential mortgages in the first half of 2011, which represented a 35% increase on the same period in 2010.

 

The National Mortgage Index shows that mortgage applications rose by 21% in 2011 on the previous year.

 

However, there was a notable departure from younger and first-time buyers, which saw numbers reach their lowest in almost three years in the autumn. On average, the index reports, higher deposits were put down in 2011, and the average age of applicants was close to 40 years old.

 

HSBC’s mortgage lending is to include £3 billion specifically set aside for nearly 30,000 first-time buyers. And there are no imminent plans to tighten the bank’s lending criteria.

 

This news comes as Platform, the mortgage lending facility for the Co-operative Bank, pledged £600 million for buy-to-let mortgage loans on the back of market conditions that still favour renting during times of job insecurity.

 

Martijn van der Heijden , HSBC’s head of lending, 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."


Are you a first-time buyer looking for a mortgage? Visit Which4U’s mortgage listings and see if we can find you the right fit.

 

Bret Clement

Friday, 20 January 2012 10:52
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Top 5 Credit Cards

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Barclaycard Platinum (22 Month BT)
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0%
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0%
3 mths
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Virgin Credit Card

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Nationwide Select Credit Card

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NatWest Platinum

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RBS Platinum

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Halifax 20 Month BT Card

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Barclaycard Platinum (Low Fee)

Introductory Offer
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Representative APR
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Credit Limit: Subject to Status
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Bank of Scotland Plus Credit Card

Introductory Offer
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Credit Limit: Subject to Status
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Nationwide Credit Card

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Balance transfers offer is only applicable to transfers made in the first 3 months of account opening and are subject to a 2.95% Balance Transfer fee (£3 Minimum). Also, get commission free card purchases abroad!!

Introductory Offer
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Purchase Rate: 0% for 3 mths
Representative APR
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Sainsbury's Finance Credit Card

Advice

Please note - Nectar points are NOT earned using this Credit Card. If you wish to collect Nectar points with your credit card you should apply for the 'Sainsburys Nectar Credit card'.

Introductory Offer
Balance Transfer Rate: 0% for 12 mths
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Purchase Rate: 0% for 12 mths
Representative APR
Purchases: 16.9% p.a. (variable)
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Balance Transfers: 16.9% p.a.
Cash Advance: 24.9% p.a.
Annual Fee: N/A
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Credit Limit: £25,000
Interest Free Days: Up to 59 days
On-Line Banking: Yes
Approval Criteria
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Sainsbury's Finance Nectar Credit Card

Advice

Earn up to Double Nectar points for every £1 you spend in Sainsbury's stores and online for the first two years. YOU MUST HAVE A NECTAR CARD IN ORDER TO APPLY FOR THIS CREDIT CARD (Nectar points are NOT earned using this Credit Card)

Introductory Offer
Balance Transfer Rate: 0% for 15 mths
Balance Transfer Fee: 3%
Purchase Rate: 0% for 6 mths
Representative APR
Purchases: 16.9% p.a. (variable)
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Balance Transfers: 16.9% p.a.
Cash Advance: 24.9% p.a.
Annual Fee: N/A
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Credit Limit: £25,000
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On-Line Banking: Yes
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  • YOU MUST HAVE A NECTAR CARD IN ORDER TO APPLY FOR THIS CREDIT CARD (Nectar points are NOT earned using this Credit Card)
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MBNA Play.com Credit Card

Advice

Receive 1,500 bonus Play Points if you spend £150 on your card within 90 days of your account opening - you can redeem these Points for a £15 Voucher!

Introductory Offer
Balance Transfer Rate: 0% for 6 mths
Balance Transfer Fee: 1.50%
Purchase Rate: 0% for 9 mths
Representative APR
Purchases: 16.9% p.a. (variable)
Representative Example: Representative 16.9% APR variable. Based on no annual fee, assumed borrowing of £1,200, rate of interest variable (annual) 16.9%
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Balance Transfers: 16.9% p.a.
Cash Advance: 27.9% p.a.
Annual Fee: N/A
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Credit Limit: Subject to Status
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Halifax All In One

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Currently offered are three APRs depending on circumstance – 17.9%, 21.9% and 23.9%. If you are accepted at the highest rate of 23.9% APR variable you may not be offered an introductory period on balance transfers and purchases.

Introductory Offer
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Balance Transfer Fee: 3%
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Bank of Scotland All In One

Introductory Offer
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Balance Transfer Fee: 3%
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Representative APR
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Annual Fee: N/A
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Credit Limit: Subject to Status
Interest Free Days: Up to 56 days
On-Line Banking: Yes
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Lloyds TSB Platinum

Advice

Keep track of your money across your Lloyds TSB personal current and credit card accounts with Money Manager and Active Account Monitoring to spot any suspicious spending.

Introductory Offer
Balance Transfer Rate: 0% for 15 mths
Balance Transfer Fee: 3%
Purchase Rate: 0% for 3 mths
Representative APR
Purchases: 17.9% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 17.95% (variable) your Representative APR will be 17.9% (variable).
Annual Rates
Balance Transfers: 17.9% p.a.
Cash Advance: 27.9% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: £50,000
Interest Free Days: Up to 56 days
On-Line Banking: Yes
Approval Criteria
  • You are at least 18 Years of Age
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Barclaycard Gold

Introductory Offer
Balance Transfer Rate: 0% for until Sep 2012
Balance Transfer Fee: 2.50%
Purchase Rate: N/A
Representative APR
Purchases: 19.9% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 19.9% (variable) your Representative APR will be 19.9% (variable).
Annual Rates
Balance Transfers: 19.9% p.a.
Cash Advance: 27.9% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: Subject to Status
Interest Free Days: Up to 56 days
On-Line Banking: Yes
Approval Criteria
  • You haven't missed multiple payments on a credit agreement within the last 12 months
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Post Office Mastercard

Advice

Get 0% commission on credit card purchases overseas (usually 2.75% charge)!!

Introductory Offer
Balance Transfer Rate: 0% for 14 mths
Balance Transfer Fee: 2.98%
Purchase Rate: 0% for 3 mths
Representative APR
Purchases: 16.9% p.a. (variable)
Representative Example: Representative 16.9% APR variable. Based on no annual fee, assumed borrowing of £1,200, rate of interest variable (annual) 16.9%
Annual Rates
Balance Transfers: 16.9% p.a.
Cash Advance: 24.1% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: Subject to Status
Interest Free Days: Up to 56 days
On-Line Banking: Yes
Approval Criteria
  • You are at least 18 Years of Age
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  • You have an income over £8,000 p.a

Sainsbury's Finance Low Rate Credit Card

Advice

There are no balance transfer fees when transferring a balance from another card. Please note - Nectar points are NOT earned using this Credit Card. If you wish to collect Nectar points with your credit card you should apply for the 'Sainsburys Nectar Credit card'.

Introductory Offer
Balance Transfer Rate: N/A
Balance Transfer Fee: N/A
Purchase Rate: N/A
Representative APR
Purchases: 6.90% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 6.95% (variable) your Representative APR will be 6.9% (variable).
Annual Rates
Balance Transfers: 6.90% p.a.
Cash Advance: 24.9% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: £25,000
Interest Free Days: Up to 59 days
On-Line Banking: Yes
Approval Criteria
  • YOU MUST HAVE A NECTAR CARD IN ORDER TO APPLY FOR THIS CREDIT CARD (Nectar points are NOT earned using this Credit Card)
  • You have a permanent UK address
  • You are 18 or over
  • You have not been declined for credit in the last month
  • You do not have a history of bad credit
  • You are not an existing Sainsbury's Bank Credit Card holder

Barclaycard Simplicity

Advice

Get 7.9% Representative APR (variable)
(Applies to every purchase and/or balance transfer you make)
No balance transfer handling fee!

Introductory Offer
Balance Transfer Rate: N/A
Balance Transfer Fee: N/A
Purchase Rate: N/A
Representative APR
Purchases: 7.90% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 7.9% (variable) your Representative APR will be 7.9% (variable).
Annual Rates
Balance Transfers: 7.90% p.a.
Cash Advance: 15.8% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: Subject to Status
Interest Free Days: Up to 56 days
On-Line Banking: Yes
Approval Criteria
  • You are at least 21 Years of Age
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  • You are a permanent resident/citizen of the UK
  • You have a bank or building society account
  • You have an income over £20,000 p.a

Lloyds TSB Advanced Mastercard

Advice

You must spend a minimum of £100 in the 1st 3 months or the 6 month 0% purchase duration is reduced to 3 months only. Keep track of your money across your Lloyds TSB personal current and credit card accounts with Money Manager and Active Account Monitoring to spot any suspicious spending.

Introductory Offer
Balance Transfer Rate: 4.90% for 12 mths
Balance Transfer Fee: 1.50%
Purchase Rate: 0% for 6 mths
Representative APR
Purchases: 11.9% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 11.95% (variable) your Representative APR will be 11.9% (variable).
Annual Rates
Balance Transfers: 11.9% p.a.
Cash Advance: 24.9% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: £50,000
Interest Free Days: Up to 56 days
On-Line Banking: Yes
Approval Criteria
  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of the UK
  • You have a bank or building society account
  • You have an income over £25,000 p.a

Amex Platinum Cash Back

Advice

Get 5% cashback on up to £2,000 spend within 1st 3 months (Max £100). After this you can earn cashback rates of 1.25% with NO spend limit!!

Introductory Offer
Balance Transfer Rate: N/A
Balance Transfer Fee: N/A
Purchase Rate: N/A
Representative APR
Purchases: 18.5% p.a. (variable)
Representative Example: If you spend £1,200 at an annual interest rate of 14.0% (variable) with a £25 annual Fee your Representative APR will be 18.5% (variable).
Annual Rates
Balance Transfers: 18.5% p.a.
Cash Advance: 22.9% p.a.
Annual Fee: £25 p.a.
Standard Features
Credit Limit: £50,000
Interest Free Days: Up to 56 days
On-Line Banking: Yes
Cashback
Introductory Cashback Rate: 5% p.a.3 mths
Standard Cashback Rate: 1.25%
Approval Criteria
  • I am aged 18 or over
  • I have a current UK bank or building society account
  • I have a permanent UK home address
  • I have a household income of at least £20,000
  • I have no history of bad debt
  • If self-employed, I have been working for more than one year.

AA Balance Transfer Credit Card

Advice

Earn AA Reward Points on your everyday card purchases, and earn double points on motoring, fuel and AA products. Use your points to purchase from a range of motoring products and services.

Introductory Offer
Balance Transfer Rate: 0% for 16 mths
Balance Transfer Fee: 3%
Purchase Rate: 0% for 3 mths
Representative APR
Purchases: 17.9% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 17.9% (variable) your Representative APR will be 17.9% (variable).
Annual Rates
Balance Transfers: 17.9% p.a.
Cash Advance: 22.9% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: Subject to Status
Interest Free Days: Up to 58 days
On-Line Banking: Yes
Approval Criteria
  • You are currently employed
  • You are over 23 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years

AA Credit Card

Advice

Earn AA Reward Points on your everyday card purchases, and earn double points on motoring, fuel and AA products. Use your points to purchase from a range of motoring products and services.

Introductory Offer
Balance Transfer Rate: 0% for 12 mths
Balance Transfer Fee: 3%
Purchase Rate: 0% for 10 mths
Representative APR
Purchases: 16.9% p.a. (variable)
Representative Example: If you spend £1,200 at a purchase interest rate of 17.9% (variable) your Representative APR will be 17.9% (variable).
Annual Rates
Balance Transfers: 16.9% p.a.
Cash Advance: 22.9% p.a.
Annual Fee: N/A
Standard Features
Credit Limit: Subject to Status
Interest Free Days: Up to 58 days
On-Line Banking: Yes
Approval Criteria
  • You are currently employed
  • You are over 23 years of age
  • You are a homeowner
  • You have an income of over £20,000
  • You do not have any recent credit defaults (CCJ's, current arrears or missed payments) on credit cards / loans / mortgages
  • You are a resident in the UK and can prove residential addresses for the past two years

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