What the papers said about negative interest rates

There has been speculation over recent weeks that the next movement in the Bank of England base rate could be down rather than up, and the Times looked this weekend at the impact this could have on consumers. For borrowers considering a base rate tracker mortgage, or perhaps already have one, this could theoretically result in a drop in their monthly payments. Experts highlighted however, that in reality, several lenders have applied a collar to their variable rate deals, which would prevent monthly payments dropping below a certain level. For older borrowers struggling to secure a mortgage, there was news that the Financial Conduct Authority (FCA) will present their first discussion paper to a parliamentary committee this week, which will look at the challenges our ageing population faces. The mortgage market is one area to be focused on, following reports from experts of an increase in borrowers being rejected for applications due to a combination of age and more complex income sources. The plight of the First Time Buyer is never far away from the news, and this weekend there were new figures showing that private renters in London now outnumber homeowners with mortgages. While this illustrates the uphill struggle for those trying to save for a deposit, there are still a range of options available. The Mail on Sunday looked at some of the schemes that allow family members (not just parents) to help – including Family offset schemes and Guarantor mortgages.