What the papers say- 27th and 28th November 2010

What the papers say- 27th and 28th November 2010

The Financial Times reported this weekend on the increasingly attractive mortgages deals being offered by lenders such as Woolwich and Skipton, and borrowers were urged to consider their options now, particularly as some deals will be designed to increase year end business and therefore won’t be around for long. Choosing the right deal can be a difficult decision, so the Times looked at alternative options including products that allow you to switch from a tracker to a fix without penalty, and hybrid deals that allow borrowers to split their mortgage between fixed and variable rates. Strict lending constraints can of course be a significant barrier for many homeowners, and the Sunday Times looked at the return of sub-prime lenders such as Kensington and Precise Mortgages. Halifax also made the financial press this weekend, with the Mail on Sunday and the Sunday Telegraph reporting on the latest lender to increase its Standard Variable Rate for new customers. Experts suggested that more lenders will follow in operating the two-tier system as low variable rates eat into their profits.

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