Following on from my previous blog regarding access to 95% mortgages I was pleased to read a pledge by HSBC confirming that they are to lend 15 billion pounds in mortgages this year with 3 billion pounds earmarked for first time buyers. If they achieve this pledge this would represent a market share of in excess of 11% making HSBC the fifth largest UK lender. This is a very positive pledge especially in relation to first time buyers. As I have always argued it is very important for the housing market to get house first time buyers on the ladder to get the whole market moving. I hope this is the start of many positive announcements from lenders in relation to mortgage lending and I will keep you advised.Lindsay Darroch Partner & Head of Property
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