Lloyds TSB plans to launch a mortgage for borrowers with a 5% deposit and backed with an equity loan from a local authority.

Some UK mortgage lenders continue to punish mortgage borrowers unfairly by pushing them on to higher Standard Variable Rates or making borrowers repay mortgages in-full for minor breaches, said the FSA.

Michael Coogan, director general of the Council of Mortgage Lenders, has announced that he will be stepping down from his role in August.

The average cost of a fixed rate mortgage stands at its highest level in six months as lenders pass on rising funding costs to borrowers.

The FSA will regulate second-charge loans, sale & rent back and mortgage back book administration in a bid to improve consumer protection, the government confirmed today.

Leadbay Media Group's assets will be sold without liabilities tomorrow at midday, leaving brokers roughly £200,000 out of pocket and outstanding debts of over £600,000 to November 2010.

UK house prices will flat line next year ending 2% lower but the number of repossessions will also fall, according to the Royal Institution of Chartered Surveyors (RICS).

House prices fell just 0.1% in November adding substance to the view they are likely to remain relatively flat for some time.

The outlook for mortgage lending is likely to stay subdued, according to Council of Mortgage Lender chairman Matthew Wyles speaking at the trade body's conference today.

Santander will complete its rebrand of 300 Alliance & Leicester (A&L) branches by the end of November, bringing the total number of Santander branches on the UK high street to over 1,300.