What the papers say – 18th and 19th January 2014

The Times revealed this weekend that the Bank of England is considering the return of 25-30 year fixed rates in an attempt to combat increasing house prices. Brokers suggested that longer mortgage terms are becoming more common, especially amongst First Time Buyers, but borrowers should not necessarily lock in for that length of time. 5 year fixed rates are becoming popular due to an increasing uncertainty over when the Bank of England will increase rates, reported the Sunday Times.

The Observer looked at low deposit deals following the news that Barclays has become the latest lender to enter the Help to Buy market. Experts agreed that the Government-backed guarantee has opened up a market that was almost non-existent in recent years, but urged borrowers to consider the wider market when looking to secure a mortgage.

Elsewhere the Independent on Sunday looked at different types of mortgage incentives offered by lenders, and recommended that borrowers do their sums to calculate the total cost of a deal before proceeding.

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