The Guardian and the Times reported this weekend that RBS and its mortgage arm, NatWest, have seen high demand for their Help to Buy mortgages over the last couple of weeks. Some brokers have said however that feedback from customers suggests that rates are still too high, and many are continuing to save for a larger deposit and access to better products. The Telegraph also revealed that high house prices combined with strict affordability requirements mean that First Time Buyers in London and the South East will not benefit from the initiative as much as other parts of the country. Elsewhere the Mail on Sunday gave tips on buying property off-plan, while the Financial Times looked at the tightening up on criteria regarding ‘dry lending’ by private banks such as Coutts and SG Hambros – meaning that in future borrowers looking for large loans will be required to commit their assets to these lenders along with the mortgage.
What the papers say – 19th and 20th October 2013