Plans to increase lending to homeowners by 20% in 2009, have been announced by HSBC. The bank is set to raise it’s available mortgage funds to £15billion for 2009, doubling the amount lent in 2007.
HSBC estimates that it will have lent £12.8billion during this current year. The bank has already announced the availability of increased funds aimed towards it’s small and medium sized enterprise customers.
“By some estimates, net mortgage lending in the UK will fall next year, but HSBC has no intention of closing its doors to customers, nor will we compromise our reputation for responsible lending,” said Paul Thurston, HSBC’s managing director.
The government will be hoping that some of the high street banks that accepted it’s bail-out funds will follow the lead of HSBC.
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