The plight of the house buyer formed the focus of this week’s financial press, with several publications giving tips on finding that dream home. The Observer revealed that enquiries from new buyers have increased for the 5th consecutive month, while The Telegraph discussed the gradual comeback of 90% mortgages. Brokers warn, however, that a larger deposit and clean credit score are still key to securing a competitive rate.
With the budget report imminent, the Sunday Times looked at ways of beating the return of inflation, advising borrowers to consider taking a fixed rate now before rates rise any further. This was echoed by the Financial Times, who reported that a recent rise in swap rates combined with increased consumer demand have resulted in many lenders putting up rates on their long term deals.
The Independent also looked at the upcoming budget, this time with the emphasis on providing assistance for existing homeowners facing repossession in a time of falling property prices and rising unemployment. It is hoped that Alistair Darling will develop existing plans and ultimately bring wider availability of mortgage rescue schemes.