The Daily Mail provided some optimism for First Time Buyers this week, with news that Britannia Building Society has joined the growing number of lenders offering a range of deals available up to 90% of the property value. Some experts are suggesting that this could signal an end to the ongoing property slump, despite economists saying that lending figures do not currently reflect this.
The Daily Express on the other hand revealed that many homeowners are struggling to hang on to their homes, and offered advice on avoiding repossession – ideally by having enough savings to protect a borrower for 6 months, but perhaps more realistically by advising anyone with problems to contact their lender as well as debt advice specialists as soon as possible
Those borrowers not experiencing problems may wish to consider home improvements in a bid to increase the value of their property, reported The Times. This follows a recent report by Nationwide Building Society which suggests that a loft conversion can add around 20% to the value and extensions an extra 11%.
In Savings news, both the Daily Mail and Express advised savers coming to the end of their initial 12 month bonus period to look around for the best deals available and switch as soon as possible. They report that some savers could see their rates drop by almost 8%.