What the papers say - 16th July 2008

What the papers say - 16th July 2008

Mortgage-related articles were few and far between in the midweek financial pages, with most articles centred around inflation and the cost of living.

The Times reported that mortgage lenders piled pressure on the Treasury yesterday to assist Britain’s ailing house market, by calling for Government to help fund new home loans. The Council of Mortgage Lenders, whose members provide more than £1,000 billion in home loans, released a private submission that it had made to a Treasury-sponsored review of financing for property purchases.

The buy-to-let mortgage market came under scrutiny in the Daily Mail, with the paper reporting that buy-to-let borrowers will face hefty increases to their bills when they remortgage. Two-year fixed rates for buy-to-let borrowing now stand at an average of 6.39pc, compared to 5.3pc two years ago.

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