Mortgages

The number of house purchase loans approved by mortgage lenders fell 11.1% in August and has dropped 59% over the past year.

The housing market set new record lows in September as prices continued to fall and transactions ground to a halt.

Nationwide Building Society will implement a new maximum LTV of 85% for mortgages sold through intermediaries.

The Council of Mortgage Lenders (CML) says the Government's plans to provide mortgage lending at 2007 levels may not be 'prudent' given current conditions in the housing market.

Confidence among mortgage intermediaries has improved in recent months, but negative sentiment remains, a survey suggests.

The number of mortgage products available in the UK has fallen to its lowest level since the onset of the credit crunch, with total numbers down 12.5% since August, according to Moneyfacts.co.uk.

Abbey for Intermediaries has announced its tracker and offset mortgage rates will not change despite the Bank of England's recent base rate cut.

The number of people seeking advice for mortgage arrears has increased by 50% over the past three months, according to the Citizens Advice Bureau (CAB).

BDS Mortgage Group has joined Legal & General's panel as an approved packager for all mortgage types.

Home Buyer Systems (HBS) has launched a credit and debit card payment facility for mortgage brokers looking to charge a fee for their advice.