HSBC boosts home lending to support customers and industry

HSBC Bank Malta plc continues to offer customers assistance in buying a home through a range of home loan options. The bank has also made significant improvements to its home loan service. The bank announced it during an exclusive networking event organized for real estate agents, notaries, architects and other interested parties.

Given the ongoing debate around the sustainability and future of the residential real estate market, the bank has invited Gordon Cordina, Consulting Economist, to present the findings of a study he has just conducted on recent market performance. residential real estate in Malta. .

The study concluded that the increase in residential real estate market turnover in 2018 appears to continue to be supported by economic fundamentals, and that the conditions are in place for a continued, but perhaps more moderate, increase in turnover. business in 2019 and 2020. The study also pointed out that the northern port area, where the average real estate price is twice the national average, accounted for 30% of the total market turnover and 40 % of its growth in 2018.

In contrast, the highest price growth rates and the highest relative turnover growth were recorded in the more affordable central areas. Cordina stressed that investing in quality is the key to market resilience and orderly evolution of the market is essential for its sustained growth.

The event was also addressed by Daniel Robinson, Head of Retail Banking and Wealth Management for HSBC in Malta. It has undergone a number of changes that HSBC has made in recent months to continue to support its customers and make the home loan process faster than ever.

Robinson also spoke of the compelling fixed and variable rate proposals the bank has launched in recent months and other steps it has taken to train and develop its staff and welcomed the recent publication of the directive from the Central Bank of Malta. on mortgages. He said HSBC supports the directive because it will give lenders specific minimum guidelines for responsible lending and in doing so will protect the future sustainability of the industry.

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Priscilla C. Carnegie