Santander has launched its first mortgages under the government's Help to Buy equity loan scheme.

Chancellor of the Exchequer George Osborne has refuted suggestions that the government's Help to Buy scheme will start a house price bubble and confirmed the final details of the mortgage guarantee aspect will be released in two weeks.

Santander is to replace Abbey for Intermediaries with a new brand from Wednesday 17 July.

Mortgage brokers would like to see greater product innovation in the first-time buyer and equity release sectors, according to the latest by IFAonline sister title Mortgage Solutions poll.

About 4,000 reservations have been made for new homes using the government's Help to Buy scheme in just two months since the launch.

The Financial Conduct Authority (FCA) has fined a sole trader £63,000 for arranging mortgages without permission and giving false information to the regulator.

Lenders have drawn down £16.5bn from the Funding for Lending Scheme since it opened on 1 August 2012 but net lending has fallen since the launch of the flagship scheme.

Bank of Ireland has given a reprieve to about 1,200 mortgage customers who were expected to be hit with an increased mortgage rate.

House prices have risen by an average of £6,726 in the past year thanks to a ‘significantly improved' mortgage market.

Sales of equity release products have remained virtually flat in the past year, according to data from Key Retirement Solutions.