What the papers say - 4th June 2008

What the papers say - 4th June 2008

The midweek mortgage-related press was selective with it’s topics and articles but still provided a range of articles.

The Daily Mail reported that Halifax has reduced fees and rates on some of its tracker mortgages. Changes have been made to some two-year, three-year and lifetime tracker deals, reportedly in a bid to boost business.

The Daily Express had an article on consumers going direct to lenders when looking for a mortgage but experts warned that in this uncertain environment, independent advice from a broker is more important than ever. In addition, the Daily Express reported that landlords are finding it increasingly difficult to pay their mortgages. Britain’s biggest buy-to-let lender, Bradford & Bingley said this week that the number of borrowers who had missed three monthly payments jumped 36 per cent between December and April

The Times wrote that increasing numbers of homeowners are taking a holiday from their mortgage payments as the pressure on their finances intensifies. Several major lenders have reported a rise in borrowers taking or planning to take a mortgage holiday, which allows them to skip payments for up to a year. Finally, the Financial Times looked at the growing number of young, working people who are unable to get on to the property ladder because of unaffordable housing and mortgage difficulties.

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