Mortgages

A mortgage broker who pleaded guilty to 16 counts of fraud has had his sentencing delayed because the judge was ‘not on duty'.

Proposals in the Mortgage Market Review (MMR) could have prevented more than 17,000 people from having their homes repossessed due to irresponsible lending, housing charity Shelter claims.

House purchase lending fell 26% in January to £4.2bn, as an "unusual combination of factors" drove buyers from the market, according to the CML.

Northern Rock is set to offer 90% mortgages, just three years after it was bailed out by the taxpayer.

Brokers should welcome CP10/28 for addressing important issues

The number of fraudulent mortgage cases rose 18% in 2010 to 3,542 compared to 3,004 in 2009, driven by a leap in application fraud.

Current proposals risk devaluing borrower responsibility

House prices in the three months to February fell 2.8% compared to the same period last year, which is the largest annual decline since October 2009, Halifax reports.

FSA chief executive Hector Sants has revealed that the regulator will publish its proposed framework for the Mortgage Market Review (MMR) in autumn 2011, with no rule changes due before 2012.

Short-term lender Omni Capital has appointed BBC Apprentice contestant Liz Locke as business development director.