Doom and gloom was still prevalent in this weekend’s papers, with many articles questioning the size of Thursday’s base rate cut and why several lenders have yet to pass it on to borrowers.
The Mail on Sunday reported that mortgages were still inaccessible to first-time buyers with no deposit and remained expensive for all types of borrower. In reaction to such realities, the Daily Telegraph provided a two-page guide to the best deals around for remortgagers and first-time buyers, coupled with some useful information about the current property market. Along with the Sunday Express, the Telegraph also assessed HSBC’s RateMatcher home loan which for new customers, will peg mortgage interest payments to their current level for the next two years.
Elsewhere, to help separate fact from fiction, the Independent revealed the truth behind the assumptions that could cost money in a falling market, whilst the Guardian looked at the benefits of a long-term tracker deal.
Evidently, it is now more difficult than ever to get a first step on to the property ladder so the Sunday Times and Sunday Telegraph suggested asking parents for help with a deposit and explored various ‘guarantor’ mortgage options. Although the ‘credit crisis’ is still a forceful subject, the press is moving on to more positive territory with plenty of advice and solutions for worried consumers.