What the papers say - 9th and 10th May 2009

Despite talk of a further drop in house prices, there was a more positive feel to this weekend’s financial press, with several articles weighing up whether now is the right time to take the plunge and buy a property. The Sunday Times and Independent both report that lenders have begun to relax their lending criteria and reduce the cost of higher loan to value schemes. First Time Buyers are warned, however, to do their sums properly rather than being attracted to the various incentives being offered by lenders at the moment.

Elsewhere there was much talk of ‘Improving not moving’, with The Telegraph, Mail on Sunday and Observer all discussing the current trend of capital raising on an existing mortgage to carry out home improvements, allowing borrowers to take advantage of cheap rates to increase the quality and size of their living space.

The recent jump in funding costs was picked up by the Financial Times; with experts again advising that now is the time to grab a good fixed rate before they increase any further, particularly where medium to long term rates are concerned.

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