The issue of deciding whether to rent or buy was put into question in this weekend’s money supplements. The Financial Times and the Sunday Telegraph both suggested that in the long run, buying proves more cost effective than renting, particularly now with falling house prices.
The Independent on Sunday reported that the number of properties sold in the UK this year has fallen by 32%, whilst the Daily Telegraph noted that a government adviser warned the housing market would take until 2015 to recover. The Sunday Times stated that lenders are knocking thousands of pounds off properties at valuation stage, forcing buyers to put down higher deposits or face higher rates. Experts gave advice to borrowers in various situations.
Elsewhere, the Observer looked at Sharia-compliant mortgages whilst the Mail on Sunday had an article on self-build projects and the mortgage products available for them.