First-time buyers are likely to be boosted by one bank’s pledge to make more funding available, an expert has noted.
Helen Adams, managing director at FirstRungNow.com, welcomed HSBC’s commitment to set aside £1 billion for
In addition, the bank is planning to make
“Not long ago first-time buyers were having to come up with between 25 per cent and 30 per cent of the deposit, which was unrealistic for them,” she remarked.
Describing HSBC as having “led the way”, Ms Adams added that the bank is likely to expect others to take similar action.
HSBC revealed that it is planning to provide a total of £15 billion for new