What's making headlines in the rest of the press
It's been a week of clampdowns. The 0.25% rise in interest rates would "turn the screw" on consumers and smother economic recovery, said Ernst & Young's ITEM Club group (The Observer, 16 November).

Boardrooms also felt the heat as the leader of the main employers' body urged companies to sort out their governance or face a legislative clampdown on excessive payoffs. CBI director general Digby Jones said businesses should have two years to follow a voluntary governance code or face intervention. His stance parallels the debate in housing.

Meanwhile, homeowners face doorstep visits from the taxman to check they have paid the new stamp duty land tax. Inspectors will be checking the public pays the correct amount, which comes into force on 1 December (Financial Times, 15 November).

But there's good news for homeowners, too, with the news that a 25-year fixed rate mortgage is being set up by a group of banks and a European agency. Best of all, there are no penalties for early repayment. The news will please chancellor Gordon Brown, who is keen to bring stability to the market (The Times, 17 November).

Source

Housing Today