What the papers say – 18th to 22nd April 2015
The Sunday Telegraph and Mail on Sunday both reported this weekend on the latest headline-grabbing deal to be launched by a high street bank. Coming in at under 2%, this deal becomes the lowest ever 5 year fixed rate, but experts suggested it is likely to be short lived due to high demand unless other lenders respond by sharpening up their own rates.
The Buy-to-let market is also benefiting from low interest rates, with the average 2 year fix now standing at just 3.36%. This coupled with an increase in rents of around 10% compared with last year suggests that now is a good time to be a landlord. Brokers in the Times pointed out however that a substantial deposit is required to access the best rates on the market, and criteria regarding rental requirements, age and minimum income can still make it a tough market to enter.
Elsewhere, the Financial Times and Mail on Sunday took a look at what the 3 main parties are offering in terms of housing, including the extension of the Help to Buy scheme, the launch of the Help to Buy ISA this autumn, and the controversial Right to Buy scheme.
In the midweek press the Daily Mail gave money-saving tips – such as overpaying on the mortgage while interest rates are at record lows. The Daily Express revealed that the average homeowner spends nearly £3,000 rectifying problems after they have bought a property, and urged potential buyers to prepare a checklist before viewing a property.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE