heroes & villains
Hero of the week is Paragon Mortgages’ parent, the Paragon Group of Companies. It reported a £39.5m pre-tax profit for the six months ended March 31 2011, up 34.8%. It shows a buy-to-let lender can operate profitably.
Villain of the week has to be Halifax Intermediaries for its latest draconian changes to interest-only lending. Sadly, other lenders are likely to follow suit because if they don’t, they will be flooded with interest-only applications.