Mortgages

The Financial Services Authority has denied research published yesterday into advice given on equity release and investment products is misleading.

The Financial Services Authority has this morning imposed an £800,000 fine on Abbey National - the biggest penalty yet for mortgage endowments complaints mishandling.

Prudential has confirmed it will enter the equity release market with its own lifetime mortgage product in the autumn.

Just over half of mortgage intermediaries believe they will be selling more mortgages in the next 12 months compared with more than three-quarters (77%) a year ago, according to research published today.

The past three years has seen the percentage of towns where it is unaffordable for key workers to live increase dramatically figures from Halifax reveal.

House prices fell an insignificant 0.1%, according to the latest figures from Hometrack, representing the eleventh month in which house prices have fallen.

The Council of Mortgage Lenders has put pressure on the Bank of England to maintain interest rates at 4.75% following the release of its latest monthly gross mortgage lending figures.

Cost of regulating the mortgage industry has been far greater than anticipated whereas the benefits of being monitored by the Financial Services Authority have yet to be realised, industry experts said yesterday.

Pensioners are choosing to release equity from their homes to maintain their lifestyles after retirement as fewer people need the funds to boost their income, says research from Key Retirement Solutions.

Activity in the property market fell 30% in April compared with the same period a year ago, a new report indicates.