What the papers say- 12th and 13th November 2011 The Financial Times and Sunday Times reports that 2 lenders have increased their SVR (standard variable rates) without the Bank of England base rate changing and discuss the possibility of other less well capitalised banks following suit. The Sunday Telegraph and The Times attention is drawn to the ongoing problems of the eurozone, which is increasing the cost of lenders’ funding and making UK mortgages more expensive. Rental incomes are rising rapidly and The Guardian highlights that renting is becoming more expensive than buying. Prospective tenants in the nation’s capital are even sending copies of their CV’s to landlords to increase their chance of securing the tenancy. The recent increase in options for 90% mortgages are highlighted in The Guardian but The Independent looks at borrowers who bought in 2007 and are unable to move due to the amount of equity they now have. Still on first time buyers The Mail on Sunday considers parental concern over what happens to the deposit if their child splits from a partner. The solutions offered include tenancy in common where ownership is split into percentage ownership or drawing up a separate agreement to protect the parent’s interest in the property. The Observer this week includes an excellent article on what would happen if a worker were to lose their health and their income as a result. Two case studies are provided highlighting the difference between being protected (continuing to receive an income) and being unprotected (and running up £41,000 of debt in a short period of time). Finally, HM Revenue and Customs (The Taxman) is to crack down on stamp duty evasion according to The Independent on Sunday. HMRC are to focus on 1200 cases where no stamp duty was paid.
What the papers say 12-13th November 2011