Bank of England

Northern Rock has revealed details of 2,000 redundancies to take place over the next few years.

The Bank of England has warned Britain's big banks could lose up to a fifth of their profits as the commercial property market implodes, The Daily Telegraph reports.

House prices have suffered from the first year on year fall since 1996, according to Nationwide's latest house price index.

Cheltenham & Gloucester (C&G) has increased rates on its range of intermediary mortgages it was announced today.

The number of mortgage approvals fell by 15% in March as credit conditions continued to tighten across the industry, according to the latest figures from the British Banker's Association (BBA).

Analysts have been surprised by recent MPC minutes which reveal the committee was split three ways over the decision to cut interest rates to 5% this month.

The Association of Mortgage Intermediaries (AMI) has proposed approaching Sovereign Wealth Funds to help boost investment in the UK mortgage market.

The Special Liquidity Scheme, announced today by the Bank of England, is unlikely to reverse the trend of rising mortgage costs seen in recent weeks, according to the Council of Mortgage Lenders (CML).

The Bank of England is to provide a further £15bn into the financial markets to ease liquidity concerns following talks between lenders and the Prime Minister.

Net mortgage lending in 2008 could reach half the level achieved last year, according to Steven Crawshaw, chairman of the Council of Mortgage Lenders (CML).