Industry

The Council of Mortgage Lenders (CML) said it is important for borrowers to know the difference between the types of mortgage fees after BBC Watchdog examined lenders "squeezing" homebuyers with large arrangement charges.

A former Credit Suisse trader was arrested in London on Wednesday and faces extradition to the US on fraud charges involving subprime mortgage bonds worth $3bn (£1.9bn).

The government has admitted it is ‘difficult' to ascertain the impact of the LIBOR rigging scandal on consumers and whether banks will have to pay out compensation as a result of it.

CONDENSED

Robert Sinclair, chief executive of the Association of Mortgage Intermediaries (AMI), has said the Financial Services Authority (FSA) has "lost the plot" over its decision to allow Tesco to sell non-advised mortgages.

Tesco Bank has made a move into the mortgage market by launching a range of non-advised deals.

Abbey for Intermediaries is to reduce rates on a number of its mortgage products.

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The Scottish police and HM Revenue & Customs (HMRC) plan to add a layer of anti-fraud checks to mortgage applications in a crackdown on money laundering.

The number of mortgage applications approved by banks fell sharply in June as the UK was hit by the wettest month on record, figures from the British Bankers' Association (BBA) show.