HSBC to triple B2L lending this year

HSBC has revealed that it is on track to triple buy-to-let lending in 2012.

Speaking at the HSBC Great Housing Market Debate last week on whether brands should support landlords or first-time buyers, Peter Dockar, head of mortgages at HSBC, revealed the lender’s ambitious targets for buy-to-let, although he admitted this was from a low base.

Dockar also added that the lender is equally bullish when it comes to providing funds to first-time buyers.

In January it pledged to lend at least £15bn in mortgages in 2012, with £3bn set aside for first-time buyers. This represents a market share of 11%, the largest it has ever had.

Dockar says: “We have set aside £3bn for first-time buyers and already carried out £1bn of lending to then in Q1.”