What the papers said about 10 year fixed rates and Help to Buy

Speculation surrounding property prices and interest rates has continued at a rate of knots over the last week, with all eyes now turned towards to the Monetary Policy Committee’s meeting this week.

Whether there is a base rate cut or not, experts agreed that now is a great time to lock into a record-low deal. The Sunday Times looked at 10-year fixed rates – an area where some of the biggest cuts have been made recently, bringing them almost in line with 5 year fixes. At a time of such uncertainty, borrowers may be attracted to the security that a long term deal offers.

The Sunday Express reported on house prices, following a warning from UK economists of a potential downturn. Estate agents say however that the market remains healthy, and will be buoyed by the expectation that interest rates are likely to stay lower for longer.

For those looking to take their second or even third step up the property ladder, brokers in the Mail on Sunday reminded homeowners that the Help to Buy initiative is not just available for First-Time Buyers. Recent figures have shown an increase in the gap between flat and house prices, so stepping up could prove more difficult to fund than expected. A scheme such as this could provide a much needed boost when it comes to getting a deposit together and making the move up.

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