Mortgages

A mortgage broker is suing the FSA for £1.67m for publishing a decision notice stripping him of his regulatory permissions, in what is thought to be the first libel case against the watchdog.

Former The Apprentice contestant and mortgage broker Christopher Farrell today received a nine-month suspended prison sentence for doctoring applications to hit sales targets.

The FSA will regulate second-charge loans, sale & rent back and mortgage back book administration in a bid to improve consumer protection, the government confirmed today.

The FSA has banned five individuals and fined another for failings which led to mortgage fraud.

Lenders have introduced a bewildering number of different mortgage fee arrangements since the beginning of the financial crisis, while prices have also soared, according to Which? Money.

Lenders are expecting a surge in demand for fixed-rate mortgages after inflation rose by the fastest rate on record last month.

Financial secretary Mark Hoban was forced on the defensive after MPs warned the Mortgage Market Review could have a "disastrous" effect on the economy if wrongly implemented.

A hefty bill awaits

Research by mortgage club The Mortgage Alliance (TMA) found 86% of its members believe business volumes will increase in 2011.

Unhelpful commentary and "assumptions" about the FSA's proposals for the mortgage market are proving a "distraction" and impeding the debate, the FSA says.