With a number of new lenders entering the mortgage market over the past year, speculation has mounted that HSBC is to be the latest bank to enter the sector.
download our news ticker
Peter O’Donovan, mortgage manager at Bestinvest, admitted the possible launch of HSBC into the market should be accepted by intermediaries. He said: “HSBC would be welcomed into the market.
For professional clients that I deal with, if they have an account with HSBC I tell them to contact HSBC directly because their rates are very competitive. Their launch into the intermediary market would bring added competition to the market and help brokers.”
register for the next forum
A spokesperson for Platform added: “Bearing in mind the recent success of high street banks and building societies within the mortgage market, it wouldn’t surprise me if more, such as HSBC, entered the market. However, the question has to be; is it too late?”
However, James Thorpe, senior press officer at HSBC, suggested that the talk was merely speculation at this point, and the organisation had no plans to move into the intermediary sector with a separate arm.
