As expected, political and economic uncertainty formed the basis of this weekend’s financial press, with the Times and the Observer looking at strategies for people worried about the impact of a hung parliament on their finances. Across much of the press the advice was to act now before rates inevitably start to rise. The Telegraph pointed out that with higher property prices and more mortgage deals available, now is a good time, and experts in the Sunday Times discussed various mortgage options including mix and match deals and offset mortgages.
First-time buyers were given a much needed boost, with news that Britannia and the Co-Operative were launching deals available with just a 10% deposit. The Sunday Mirror revealed that the number of mortgages which require a 10-15% deposit has increased from 461 to 520, a considerable improvement on this time last year when even those with a 20-30% deposit were being priced out of the market.
Elsewhere the Mail on Sunday looked at the recent drop in Buy to Let rates by lenders such as Nottingham and Platform. With many landlords left stranded on SVR over the last few months, experts agreed that any improvements in rate are welcome.