With the launch of the first 2 year fixed rate under 2%, experts in this weekend’s financial press were keen to warn borrowers that they need to lock in now before lenders start to push rates back up over the coming weeks. The Financial Times , Sunday Telegraph and Sunday Times also highlighted the importance of looking at the total cost of a deal rather than just headline rates, as many of the lowest rates carry high arrangement fees that will not be cost effective for everyone.
The Independent on Sunday reported on offset mortgages as an alternative way to clear debt earlier. At a time when savings rates are low, it is useful for borrowers to be able to make their work in a different way, whilst retaining access to their money. Several lenders now only charge a minimal premium for offset deals, and some none at all, making it a much more flexible and attractive option than in previous years.
Elsewhere the Times looked at the rising cost of cancer treatment, highlighting the need for Private Medical Insurance, or Critical Illness cover, while the Mail on Sunday revealed that Buy-to-Let lending has grown 72% since the first quarter of 2009.