The remortgage market is gathering pace and Barclays’ increased LTV to 75% on its Great Escape range should help the sector. In addition, the overall outlook for the buy-to-let sector appears to be rosy


Heroes & Villains


Hero of the week is Precise Mortgages, which has launched a range for home movers. It is great to see it expanding its product range. An affordability stress test to 2% above the reversionary rate applies, which helps to ensure borrowers have strong affordability even if rates rise. All products have a three-year cap at 3% above pay rate.


Villains of the week are the lenders using charging orders to turn unsecured debts into secured debts. A charging order is a court order that places a charge on a debtor’s property, turning unpaid, unsecured judgement debts into secured debts. Secured debt is cheaper for borrowers. Lenders can’t have it both ways.