This weekend’s financial press carried a warning to homeowners to prepare for a double dip in house prices this year due to a lack of mortgage funding, an expected rise in Capital Gains Tax (CGT) and looming interest rate increases. The Times and Independent on Sunday predicted further mortgage rationing as lenders are forced to repay their Government support loans, and urged borrowers to consider remortgaging now while rates remain low. On a positive note however, experts suggested that the Buy-to-Let market is improving, with the emergence of new lenders such as Aldermore and Precise Mortgages, and a general easing of criteria. Those homeowners who are considering remortgaging would have welcomed news in the Mail on Sunday that mortgage deals from lenders such as the Yorkshire Building Society, HSBC and Woolwich have improved over recent weeks. Also mentioned in the Observer, the Yorkshire BS has introduced a new 10 year fixed rate under 5% for those concerned about future rate rises, although experts urged borrowers to consider any changes in circumstances before tying themselves in for this length of time. World Cup fever also hit the financial headlines, with the Sunday Times taking a look at the football-related deals currently on offer from lenders such as Northern Rock and Santander. Experts assessed the deals and agreed that, while they are not uncompetitive, they should as always be compared with others on the market in terms of overall cost. In other news, the important subject of family protection was discussed once again, with the Guardian revealing that 37% of women believe they don’t need life insurance. The article looked at when cover is in fact needed as well as average costs and where to look for competitive policies. The Financial Times reported on the recent announcement by Scottish Provident that they are introducing lower premiums for term assurance, targeted at customers insuring sums of £500,000 or more.
What the papers say - 12th and 13th June 2010