The FSA should force lenders to issue warning letters to customers with interest-only mortgages, an equity release lender has urged.
Directors of Black and White Group, Chris Ollenrenshaw and Thomas Reeh have both been fined a total of £60,000 by the regulator, while Adrian Childs and Ollerenshaw have been banned.
Gross mortgage lending by banks rose to £7.5bn in October, according to data released by the British Bankers' Association.
The government has admitted it is ‘difficult' to ascertain the impact of the LIBOR rigging scandal on consumers and whether banks will have to pay out compensation as a result of it.
Loans for home purchases reached their highest number since December 2009 in November thanks to the loosest mortgage lending conditions seen since the Lehman collapse, according to the latest Mortgage Monitor from e.surv chartered surveyors.