Mortgages

Former chartered surveyor Ian McGarry, jailed yesterday for seven years for his part in a £50m mortgage fraud, is to appeal the sentence, which his solicitor branded as "manifestly excessive".

The FSA has been urged by the Council of the Residential Property Surveyors Association (RPSA) to investigate lenders for failing to advise borrowers they must obtain their own housing survey.

A chartered surveyor and property investor have been jailed for a total of 20 years after admitting their role in a £50m commercial mortgage fraud.

The hoped-for spring bounce in the housing market failed to occur during May, as fears over the economy and lack of mortgage finance continued to depress activity levels, according to RICS.

Scottish millionaire boxing promoter Barry Hughes has appeared in court accused with his wife of committing a £1.5m mortgage fraud.

A policeman's wife took part in a £10m mortgage scam in exchange for lavish gifts worth £1m, the Old Bailey heard.

Annual house prices fell 4.2% in May, as almost static monthly growth saw prices rise just 0.1%, according to Halifax.

Barclays has won a long-running legal battle over its actions on the eve of the credit crisis.

Nine people have been charged with fraud after providing false information about their earnings and occupations to try and obtain mortgages.

A "well-functioning" mortgage market must bridge the gap between protecting vulnerable consumers and the availability of affordable mortgages, according to the Financial Services Consumer Panel.