HSBC provided a mortgage on over 28,000 homes for first-time buyers in 2021 as the banking giant posted solid results.
Overall, HSBC helped provide the funding for the purchase of 90,000 homes in 2021.
The average price paid by first-time buyers for a property was £275,000 with an average mortgage of £212,000 vs £240,000 and £194,000 in 2020.
Meanwhile, the average LTV of first-time buyers was 77% LTV in 2021 vs 81% LTV in 2020.
Across all mortgages in 2021, the average LTV fell from 70% to 67%.
During the year the bank more than doubled its broker partner numbers from 277 to 640 – an increase of 363 firms with access to HSBC mortgages. This number has continued to increase and is currently on 717.
The bank provided £27.6bn of gross new mortgage lending in 2021 vs £24.5bn in 2020.
Noel Quinn, group chief executive at HSBC, said: “We made good progress against our strategy in 2021, which contributed to a strong financial performance that was supported by the global economic recovery. All of our regions were profitable and we saw growth in the fourth quarter of 2021 in many of our business lines.
“We have good momentum coming into 2022 and are confident that we can continue to execute against our strategy.
