Mortgage rates have only fallen slightly despite record cuts in interest rates, according to research from moneysupermarket.com.

Tesco has announced plans to create more than 800 customer service centre jobs in Scotland to support its finance operation, reports the BBC.

Clive Norman, an independent mortgage adviser at Sovereign Financial Planning in Eastbourne, is calling for the industry to support a petition posted on the No 10 Downing Street website demanding the Government intervenes to outlaw dual-pricing.

Lloyds Banking Group will not close all of its Cheltenham & Gloucester branches in November as had been planned.

The FSA has banned and fined a London mortgage broker for submitting false and misleading mortgage applications with massively inflated incomes.

Mervyn King was outvoted by fellow policymakers in his attempts to pump even more money into the economy this month.

The recovery has begun, although it will be unpredictable and protracted, according to the International Monetary Fund's chief economist, reports the Telegraph.

The number of direct products rose for the fourth month in a row as mortgage activity fell in July, according to the August TrigoldCrystal Product Index.

Stroud & Swindon Building Society chief executive David Hill is stepping down at the end of August after nine years at the mutual to pursue other interests.

Equity release advisers must invest in advertising to attract business as more customers are choosing products based on adverts, research suggests.