Today’s Daily Mail noted that lenders are now passing on the recent base rate cuts and suggests that, with economists predicting interest rate rises next year, borrowers may want to consider a five year fixed rate deal to ensure longer term stability. Homeowners hanging on for further reductions run the risk of paying higher rates if house prices continue to drop, giving them less equity in their property.
The Daily Express looked at the upcoming change in Home Information Pack (HIP) rules, which will mean that a vendor cannot put their property on the market until the pack has been compiled. The fear is that this will cause more delays and problems for an already troubled market.
The subject of ISAs was also discussed, as the annual investment deadline approaches. The Daily Mirror explained Stock and Shares ISAs as a way of taking advantage of low share prices, whilst the Express looked at cash ISAs. Elsewhere there was advice for savers regarding variable rate bonuses, which may initially appear attractive but may change at any time. This highlighted the importance of careful research before any commitment is made.