mortgages

The Intermediary Mortgage Lenders Association (IMLA) has refuted suggestions by the Association of Mortgage Intermediaries (AMI) that advisers may account for just 45% of the market in 2009.

Based on the number of mortgage schemes listed on its sourcing system during the last 12 months, the number of live products has dropped to a new low, figures released by Mortgage Brain suggest.

The suffering mortgage market had a slight boost in November as net lending by building societies rose to £422m from £413m in October, although approvals dropped.

The majority of Nationwide Building Society's tracker mortgage customers will not feel the benefit of any further cuts in interest rates, following an announcement by the lender today.

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The FSA has issued further clarification on the required standard of price disclosure on the sale of mortgage payment protection insurance (MPPI) on its website, reiterating that disclosure of the monthly premium alone is not sufficient.

London Scottish Bank was placed into administration last night with the FSA announcing it would be prevented from accepting further deposits.

Independent protection insurance specialist Burgesses has accused mortgage intermediaries of being 'asleep at the wheel' when assessing borrowers' affordability for mortgage products.

Nearly half of the UK's 2.9 million interest only mortgages have no specified investment vehicle in place to pay off the capital on the loan, warns LV=.

Abbey for Intermediaries has introduced a new range of intermediary exclusives available from today.