The main theme running through today’s financial press is the latest Government bail-out and the effect this will have on the individual. According to both the Daily Mail and Daily Express, the new plan should see an increase in the availability of higher loan-to-value deals, allowing those with a smaller deposit or minimal equity in their property to obtain a more competitive mortgage. This is an important move in helping First Time Buyers to get onto the ladder and ultimately restart the housing market, although the new measures will take time to filter though. The Daily Express also reports that Northern Rock have been given longer to pay back its £26 billion loan as part of the Governments bid to boost lending. This should see the introduction of cheaper deals for new and existing customers.
What the papers say - 21st January 2009