Mortgages

The Council of Mortgage Lenders(CML) has elected Matthew Wyles, group distribution director of Nationwide Building Society, as chairman for a second year.

Skipton Building Society will cut 90 jobs as part of a shake-up of the business.

December figures from the British Bankers' Association (BBA) show mortgage lending grew by £3.5bn in December 2009.

Firms must not add early repayment charges on top of arrears charges as part of a raft of measures designed to ensure the fair treatment of mortgage holders in arrears.

The average loan-to-value (LTV) on new mortgages hit 70% in December for the first time since April 2009, according to figures from the Mortgage Advice Bureau (MAB).

Consumers are increasingly looking for alternative to tracker mortgages, due to expectations of rate rises this year, according to research from Abbey for Intermediaries (AfI).

Five mortgage and loan arrears mediation companies have founded a new trade association.

Mortgage lending grew 14% in December with the "surprisingly strong" data driven by a surge in house purchase completions, according to CML figures.

Variable rate mortgages accounted for 80.9% of loans arranged by broker John Charcol in December 2009.

The FSA has fined and banned a Bolton-based mortgage and insurance broker after discovering he had no relevant financial qualifications or experience.