HERO OF THE WEEK is The Mortgage Works for launching an 80% LTV buy-to-let range. The deals include a one-year fixed rate from 4.69% with a 2.5% fee and a 5.69% rate with a 1.5% arrangement fee. There is also a one-year tracker at
4.69% with a 2.5% fee. Seeing a lender go above 75% LTV in the buy-to-let sector is fantastic. Let’s hope others follow.
VILLAIN OF THE WEEK is Lloyds Banking Group for forcing customers who want to borrow more than £500,000 to take out a repayment mortgage. It has also restricted what it will accept as a repayment vehicle. Borrowers will no longer be able to use the sale of their main residence, business or inheritance.