What the papers say - 6th May 2009

The midweek mortgage-related press was relatively quiet following last weekend’s extensive coverage of rate predictions. The Daily Express reported on a new licensing scheme to be introduced by the Association of Residential Letting Agents, which is should ensure that members are professionally qualified, and client money is protected. The article reveals however that there have been calls for the Government to do more to protect tenants from eviction as more landlords struggle to meet their mortgage payments.

The Daily Mail looked at holiday lets, following the announcement that, from April 6th 2010, second homeowners will no longer be able to offset losses from their holiday properties against other tax bills. Industry experts speculated that this could force people to sell properties they can no longer afford to keep which in turn could force down prices in areas that are already suffering.

On a more positive note, improved savings rates appear to be making a comeback, with A&L and Barclays launching accounts with rates of 7% and 6% respectively. Once again the advice is to check terms and conditions before signing up. The A&L account, for example, also requires savers to also move their current account to the bank.

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