£11bn to back businesses and households

We are therefore pleased to make available over £11bn of measures to back businesses and households:

• We are supporting UK SMEs by making an additional £5bn of lending available over the next five years. This will underpin the growth ambitions of thousands of small businesses across the country, helping deliver on the objectives in the Government’s Small Business Plan.
• We will increase cashback to first-time buyers from £700 to £2000 to help with the cost of buying a home. This is expected to mean an additional £1bn of lending and builds on our programme to increase borrowing limits for first-time buyers, allowing 24,000 more customers to get onto the housing ladder.
• We will invest over £100m in our network - including ATMs - over the next three years and maintain our existing bank branch network in 2026. We will also create 1,000 highly skilled jobs over the next five years, offering mortgage and investment support to first-time buyers, homeowners and retail investors.
• We will make available an additional £1bn of financing to the social housing sector in 2026 and a further £4bn by 2030. This will support the construction, renovation and management of tens of thousands of new social homes across the country.

Ian Stuart, CEO, HSBC UK, said: “By making available over £11bn of financing support, we can go further in driving SME expansion, helping first-time buyers onto the property ladder and supporting the customers and communities we are proud to serve.”

Media enquiries to:

Katie Cohen, 07817693071, UKPressOffice@hsbc.co.uk