In a sign of the recent boom in housing market activity,
The bank declined to give further details about the exact number due to commercial considerations.
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Stamp duty holiday
The stamp duty holiday had been due to end on 31 March, helping to fuel a rush of housing market activity, but it was extended in the recent Budget.
The reductions include the rate on a 5 per cent deposit two-year fixed-rate deal, with a £999 fee being cut from 3.99 per cent to 3.74 per cent. A similar “feesaver” deal has a rate cut from 4.29 per cent to 3.99 per cent.
Read more: Boost for first-time buyers as more ultra-low deposit mortgages hit the market
It is one of a string of major mortgage providers to have returned to the 5% deposit lending bracket in recent weeks.
Other reductions in HSBC UK’s range include a two-year 10% deposit deal at 2.99 per cent, down from 3.09 per cent, with a £999 fee. Rate cuts have also been made on its 20 per cent, 25 per cent and 40 per cent deposit deals.
The bank said more than 400 broker firms have access to its mortgages, an increase of more than 100 in just over eight weeks.
“The Government’s stamp duty relief scheme gave a welcome boost to the mortgage and property markets and the resilience of home buyers has really shone through,” explained
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“We completed more mortgages in March than any month in the 40-plus years we have offered home loans, including those for over 3,000 first-time buyers. It has been an incredibly busy time for us,” she added.
TSB
TSB said this week that between
In the final quarter of 2020, TSB recorded a 102 per cent year-on-year increase in mortgage applications among first-time buyers, and the average application purchase price increased by 9% to £223,146.
The average age of first-time buyers remained at 30, TSB said.
Read more: Boost for first-time buyers as more ultra-low deposit mortgages hit the market
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