Industry

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

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

First-time buyers (FTBs) helped kick-start the recent mini revival in the mortgage market, research suggests, while home movers and investors are also making an impact.

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

Northern Rock has announced it will stop paying interest on some of its bonds until further notice.

Lloyds Banking Group retained the top mortgage lender spot last year with a 30.3% share of the market, compared to 28.2% in 2007, Council of Mortgage Lenders figures show.

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.

Asking prices are falling this month as sellers drop prices to more realistic levels in the traditional housing market summer lull, according to the latest index from property website Rightmove.