UK mortgage balances at HSBC fell in the six months to 30 June compared to the same period last year, dropping from £79.6bn to £78.7bn.
According to the bank’s interim results, the average loan-to-value on new lending to HSBC’s UK customers stood at 55.9% compared to an average of 42.5% for the total mortgage portfolio.
Last week HSBC announced its second broker partnership with London and Country, following its pilot with Countrywide.
Despite a slight decrease in its mortgage balances, HSBC reported a 10% rise in profit before tax in the first half of 2015 compared with H1 2014, increasing to $13.6m.
Its increase in adjusted profit before tax, which rose by $280m, was attributed to a strong performance in its Asian business where revenue surged by $1.1m, with particular growth in its wealth management products in Hong Kong.
