Here’s some beautiful capital (HSBC)
HSBC has said it will put aside another £350m to mortgage borrowers who have a deposit of
only 15 per cent or less.
In fact, the bank will ring-fence £250m of that for first-time buyers.
independent remortgage advice...
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Here’s some beautiful capital (HSBC)
HSBC has said it will put aside another £350m to mortgage borrowers who have a deposit of
only 15 per cent or less.
In fact, the bank will ring-fence £250m of that for first-time buyers.
independent remortgage advice across the uk
This tactic directly responds to the majoe problem of the mortgage and remortgage industry,
which is finding deals for first-time buyers who can’t afford the large deposits that are necessary
in most mortgages.
The market as a whole has seen some improvement in recent months and if more lenders ape
HSBC’s new stance things could improve more quickly – assuming the world economic situation
doesn’t thrust a sword into the housing market’s heart.
During the first half of the year HSBC said 20 per cent of its lending was to first-time buyers –
equating to £1.
4bn.
That figure is now likely to increase with the promise from the bank.
However, those with less than ten per cent deposit won’t benefit from HSBC’s new promise.
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