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HSBC to raise new-build lending LTV to 85%

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  • 25/04/2012
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HSBC to raise new-build lending LTV to 85%
HSBC is set to raise its LTV on new-build lending to 85% from 75% as its head of lending suggested the market was shaping up with better surveying practices producing more "stable valuations."

Martijn van der Heijden, head of lending at HSBC also reported Q1 had been its strongest quarter of mortgage lending ever, albeit from a low base.

Van der Heijden attributed higher lending partly to the SVR hikes by two other big lenders – Halifax and RBS – which boosted lending 30% on the previous quarter, last night speaking at a media event in London.

The direct-only lender also called the end of non-advised in the Mortgage Market Review a “bit of a shocker.”

“It is such a big change in stance. I think people should be given products they understand in the first place, which is a more granular way to do it,” he said.

For the coming year, van der Heijden said he definitely saw a “glimmer of hope.”

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