There was a noticeable shortage of mortgage-related features in the midweek press, with only the Daily Express offering two articles. Firstly, a number of experts advised that with economic forecasts dropping sharply next year, tracker mortgages should be the first choice of home loan. Many borrowers will take a tracker but leave themselves open to switching to a fix when rates fall. Some lenders allow borrowers to drop the tracker loan and lock into a fix at any time, without penalty.
Secondly, speculation that stamp duty payments will be cut or deferred for buyers should be confirmed- or ruled out- in Chancellor Alistair Darling’s pre-Budget report at the beginning of October. The Daily Express reported that estate agents and mortgage experts are urging buyers to continue with house purchases as normal-or at least not to put off applying for mortgages.