According to today’s Daily Mail, homebuyers and those remortgaging should opt for standard variable rates because of sharp falls in the Bank base rate. It is noted that in many cases, those coming to the end of their existing mortgage deal would be better off moving on to the SVR- at least until conditions in the mortgage market improve. The Daily Express observed that equity is the saving grace to getting a better mortgage deal and that the more you have, the better you will fare in the uncertain mortgage market. Finally, the Daily Mirror revealed that in spite of receiving bail-outs worth millions, lenders are not offering affordable mortgages. Recent research shows just ten lenders are offering 90 per cent loans to value, compared to 41 giving up to 95 per cent in April last year.
What the papers say - 14th January 2009