What the papers say – 7th and 8th November 2015

Last week the Bank of England released its quarterly inflation report, which hinted that an interest rate rise may not occur until the end of next year or even the beginning of 2017. Experts in this weekend’s financial press took the opportunity to look at the potential impact of a delayed rise on consumers. One economist suggested that continual low rates gave people little incentive to save their money, and also warned that the longer the delay, the greater the shock to borrowers when rates do eventually rise. In the Times, brokers said that competition between lenders is going strong, and is likely to remain so as we head into the New Year.

The Sunday Times looked at the ongoing difficulties experienced by older borrowers, and revealed that a report due out this week by the Building Societies Association will seek to address the issues. With the number of people aged 65 or over expected to reach 17.2 million by 2035, lenders are being asked to re-assess their criteria regarding maximum lending age in a bid to move towards more flexible underwriting.

Elsewhere, the Sunday Telegraph reported on the increase in demand for holiday homes, while the Independent on Sunday looked at the costs involved with buying a houseboat – from maintenance costs to securing a mortgage.

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