mortgages

The negative reputation of equity release remains the top concern for advisers recommending the products, according to the Hodge Lifetime IFA Confidence Report.

Lloyds Banking Group has hired Peter Curran to head up its intermediary business.

MPs have said that a government scheme to kick-start the UK mortgage market is not working.

Lower property values have pushed the overall value of new lending through equity release plans down 41% from £319m in Q2 2008 to £189m in Q2 2009.

Over two in five of those having difficulty paying their mortgage do not seek advice in dealing with their problems, according to Adam Phillips, chairman of the Financial Services Consumer Panel (FSCP).

The average number of live mortgage products available to intermediaries has fallen by 6.45% from April to 2,673 in May, according to the June TrigoldCrystal Product Index.

Estate agents are registering four house hunters to every available property as demand is outstripping supply across the UK housing market.

Gross mortgage lending declined 2% to £10.3bn in May from April's figure of £10.5bn, according to the latest data from the Council of Mortgage Lenders (CML).

The Treasury Committee is to undertake a short inquiry into mortgage arrears and access to mortgage finance as part of its continuing examination of the ramifications of the banking crisis.

John Charcol has warned that the recent rise in swap rates will be 'the straw that breaks the camel's back' - forcing lenders to increase the cost of their fixed rate mortgages over the coming days.