Spring traditionally signifies the start of the house buying season, and the Daily Telegraph revealed this week that recent changes to stamp duty have resulted in an increase in enquiries to estate agents and online property sites. Experts said that the recent announcement by the Post Office confirming that it will be offering 90% loans is good news for First Time Buyers, and other lenders are expected to follow suit, but getting together a sizeable deposit is still the key to a good rate.
For those borrowers with more equity there was good news, as the Daily Mirror reported that 3 of Britain’s biggest lenders – Nationwide, Post Office and Barclays – have all reduced their rates. Competition appears to be hotting up, and cuts by other lenders are predicted.
Elsewhere the Daily Express looked at offset mortgages as an alternative to savings accounts. Experts agreed that the margin between offset and traditional mortgages has narrowed in recent times so more people are likely to find these deals worthy of consideration.