HSBC extends mortgage offer

HSBC has revealed that it is extending the availability period for its 1.99 per cent mortgage deal.

The homebuyer loan, which is available with a 40 per cent deposit, will now be available until the end of October, the bank has said.

Head of mortgages Martijn van der Heijden commented: “We made a commitment to stay open for business and extending the 1.99 per cent mortgage is part of that.”

The lender recently announced that it is extending the amount of money it is supplying for home loans at a 90 per cent loan-value over the course of 2009 from £1 billion to £1.5 billion.

It made this decision after announcing that the former figure has already been reached.

Recently, the Bank of England revealed that the majority of lenders quizzed in its quarterly Credit Conditions Survey expected the last three months of the year to see more finance being made available for home loans.

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