Press Coverage
20 April 2009
The weekend press considered whether now is the best time to take out a long-term fixed-rate mortgage; how to cope if you are threatened with repossession and tips to help first-time buyers onto the housing ladder.
Melanie Bien, spokeswoman for Savills Private Finance, was quoted in several articles - a selection of which appear below.
The Financial Times (18/04/09) reported that lenders such as Woolwich are raising the cost of long-term mortgages because they are becoming more popular. Melanie Bien said: 'We expect other lenders to follow suit if they experience similar demand.'
The Independent (18/04/09) had a look at repossession and how to avoid it. Melanie Bien said: 'With the number of repossessed homes forecast to rise significantly this year, the government needs to do more. It is already asking lenders not to proceed with repossession hearings for at least six months and is encouraging housing associations to buy properties and rent them back to their owners, plus the Homeowner Mortgage Support Scheme will allow borrowers to take a payment holiday if they have suffered an income shock. But the Government must ensure that lenders are reasonable and act the same way so that borrowers know where they stand.'
In the Sunday Telegraph (19/04/09), Melanie Bien gave advice to first-time buyers struggling to get on the housing ladder. 'Given the difficult market conditions it is vital to establish how much you can borrow before you even look at a property. Most buyers are in for a shock as the situation is very different to what it was just a couple of years ago.'