What the papers say – 24th and 25th November 2012

The Times and Financial Times both reported this weekend on new low rates available from lenders including Santander and the Co-Operative Bank. Recent cuts mean that some fixed rates are now available for less than the cost of a variable rate deal, which experts agree is highly unusual. What it does do is remove the dilemma that home owners routinely face as to whether to fix or not. With the Monetary Policy Committee (MPC) now ruling out the prospect of any further cuts to the Bank of England Base Rate, now seems a good time to fix. Elsewhere there was good news for interest only borrowers with the Sunday Times revealing that Santander have relaxed their criteria slightly to allow part repayment and part interest only mortgages up to a maximum of 75% loan-to-value, provided that the interest only element is not greater than 50%. Brokers highlighted the significance of a big lender recognising that criteria had been tightened up too much. In protection news, the Guardian covered the approaching change in gender pricing on 21st December, while the Sunday Telegraph looked at the importance of full medical disclosure when taking out life or travel insurance.

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