Industry

House prices experienced their first quarterly rise since October 2007 as an increasing demand for properties and a shortage of availability supported the market, according to the latest Halifax house price index.

Mortgage brokers are broadly optimistic about their business prospects for the next 12 months, research from RBS Intermediary Partners (RBS IP) shows.

The FSA has banned a mortgage broker for submitting remortgage applications with false information.

Northern Rock has made a loss of £724.2m in the first half of the year due to a rise in arrears and writedowns.

House prices are predicted to rise 20% by 2014 due to a lack of supply and increased demand, according to the latest forecast from the National Housing Federation (NHF).

The FSA has banned a Cornwall mortgage broker for submitting false information on mortgage application forms.

Nationwide has predicted positive house price growth for the rest of 2009, after prices rose by 1.3% in July.

Abbey and Alliance & Leicester has become the second biggest mortgage bank in the UK by claiming a 16.3% share of gross mortgage lending in the first half of 2009.

Mortgage approvals for house purchase and remortgaging in June have risen above the previous six-month average.

Gross mortgage lending by building societies hit the highest level seen this year in June although it remains 40% lower than last year.