The Government will continue its Mortgage Rescue Scheme to stave off rising repossession numbers, but has announced plans to cut its funding as it searches for ways to ensure it delivers better value for money.

Over 500 key mortgage players gathered last night at the London Hilton for the British Mortgage awards in association with Mortgage Solutions.

John Charcol has launched The Interest Rate Protector, an interest rate cap that protects borrowers with large mortgages from rising rates.

The FSA today banned six individuals - fining one of them £130,000 - for failings in relation to mortgage fraud, taking the total number of brokers banned in the last three years to 91.

The lack of quality advisers to service borrowers when mortgage sales pick up will be a major concern for the industry, according to an exclusive Mortgage Solutions report.

Onerous regulation could lead to a smaller, more polarised credit market, according to the Finance and Leasing Association.

Lettings agency and property service Countrywide has bought The Letmore Group, a large independent specialist rental agency in East London and Essex.

Lenders fear residential lending could be restricted further over the next three months, according to a Bank of England (BoE) report.

The financial watchdog says it is considering a ban on ‘toxic' loan combinations, including elements such as a high loan-to-value (LTV), interest-only and sub-prime in a single deal.

In a bid to stave off regulatory interference, the CML, IMLA and AMI are trying to forge a new understanding between brokers and lenders.