HSBC increases lending to UK mortgage borrowers

HSBC said it increased lending to UK mortgage borrowers by more than a fifth this year, while lending to first-time buyers has gone up by a third.

The bank said it approved £5.6 billion in loans to mortgage borrowers between January and September 2012, representing a 22 per cent increase on last year.

Its first-time buyer lending has gone up by 33 per cent compared with 2011, with loans worth £ 4 billion approved so far this year.

Overall, the bank said it has approved £38.3 billion in new loans to UK businesses and mortgage borrowers in the first nine months of 2012, an 11 per cent increase on the same period in 2011.