HSBC said it has increased its UK mortgages by $4.6 billion (£3.7 billion) over a year ago, increasing its share in the mortgage market.
High Street Bank has increased its UK mortgage stake from 8% to 8.1%, adding its annual report that shows “opportunities to continue the mortgage franchise.” 
The UK is the largest bank mortgage market, accounting for 46.7% of the global mortgage portfolio, while Hong Kong and the US are other major mortgage markets.
The average loan-value ratio for new loans in the UK was 69%, but about 53% of the overall mortgage portfolio.
The bank said it received gross freight from its UK mortgage at £163.5 billion at the end of last year.
“Although the average life of HSBC mortgages, rising home prices, higher interest rates and cost-of-living challenges have led to the observation across the market with the number of people seeking new mortgages for up to 35 years or more. With refinance, the loan will last about 5-8 years.”
Overall, the bank posted its pre-tax profits in 2024, up 8.7% to $32.3 billion.
However, the net interest margin – The difference between interest received from banks giving loans and the rates paid to depositors – It fell to 10 basis points, reaching 1.56%.
Additionally, global staff personnel will be cut from 3% to 211,304 this year, saving $300 million in 2025 and reducing $1.5 billion from an annual cost basis by the end of next year.
Last October, new CEO George El Hedaly (pictured) split the lender into four broad divisions: UK, Hong Kong, corporate and in-house banks, international wealth and premier banking , simplifies groups.
The UK units led by CEO Ian Stuart include private banks, including First Direct and M&S Bank. It also includes commercial banks that include innovation banking.
Elhedery said: We create simple, more agile, concentrated banks built on our core strengths. ”
