first_img HSBC UK also announced various mortgage rate cuts across its range today, including on some low-deposit deals. Michiel Willems March was HSBC’s strongest mortgage completion month in more than 40 years HSBC UK is taking part in the government-backed mortgage guarantee scheme to give people with deposits as low as 5 per cent a better choice of mortgages, after many low-deposit home loans were pulled from sale earlier in the coronavirus crisis. HSBC handed out more mortgages in March than in any other month of more than 40 years offering home loans. (Tolga Akmen/AFP via Getty Images) Also Read: March was HSBC’s strongest mortgage completion month in more than 40 years (Tolga Akmen/AFP via Getty Images) Also Read: March was HSBC’s strongest mortgage completion month in more than 40 years 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. 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. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com (Tolga Akmen/AFP via Getty Images) Also Read: March was HSBC’s strongest mortgage completion month in more than 40 years 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 bank declined to give further details about the exact number due to commercial considerations. (Tolga Akmen/AFP via Getty Images) Also Read: March was HSBC’s strongest mortgage completion month in more than 40 years It is one of a string of major mortgage providers to have returned to the 5% deposit lending bracket in recent weeks. Tags: London house prices UK house prices whatsapp The average age of first-time buyers remained at 30, TSB said. Thursday 6 May 2021 1:17 pm 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. In a sign of the recent boom in housing market activity, HSBC UK said March was its strongest ever month for mortgage completions, including deals for more than 3,000 first-time buyers. “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 Michelle Andrews, HSBC UK’s head of buying a home. “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. Show Comments ▼ Nick Smith, head of mortgages at TSB, said: “The market is showing no signs of slowing down, and by reintroducing our 95 per cent LTV mortgages, we hope to help those with smaller deposits to buy a house, particularly first-time buyers.” TSB said this week that between March 2020 and March 2021, it provided 12,000 mortgages for first-time buyers – a 60 per cent increase on the previous 12-month period. whatsapp Share Stamp duty holiday TSB (Tolga Akmen/AFP via Getty Images) 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.last_img read more