What the papers say - 3rd and 4th May 2008

What the papers say - 3rd and 4th May 2008

A broad range of mortgage-related articles featured in the weekend papers and topics ranged from green mortgages to buy-to-let student properties. The Financial Times reported that the difference between interest rates available for borrowers with large deposits and those with limited down payments has widened from around 0.4 per cent last year to 1 per cent in recent months. Additionally, Halifax said its index of house prices fell by 1.3 per cent in April, the first annual fall since 1996.

As a direct result of the falling market, The Independent on Sunday reported that gazundering is back and the power is with buyers, some of whom are using it to force down the price of properties. Some advice was at hand for sellers who fall victim to this sneaky tactic. Elsewhere, The Daily Telegraph looked at how to pay for the increasing cost of private education and suggested remortgaging to raise the necessary lump sum. The Telegraph also looked at the student buy-to-let market, and compiled a table of the best university towns to invest in.

The Mail on Sunday ran a feature on the new benchmark interest rates to keep in mind if you are buying your first home, moving up the housing ladder or remortgaging in the next few months. Ranging from 5 to 7 per cent, the article explained potential interest rates, depending on your situation.

Finally, the Observer looked at ‘green mortgages’ and named the lenders who promise to make a contribution on your behalf. The article highlighted how London and Country pledge to plant 50 trees for every mortgage they complete and so far, have planted 1.4million trees across the world.

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