Mortgages

Some First Direct mortgage customers will see their payments increase – while others will be in line for money back – after an error meant some customers' monthly payments were miscalculated.

The Economic Secretary to the Treasury, John Glen, has responded unsolicited to news that MoneySavingExpert.com founder Martin Lewis is funding academic research to try to find solutions to release 250,000 mortgage prisoners. 

The competition watchdog says it has found evidence of potential mis-selling and unfair contract terms in the leasehold housing sector, and is set to launch enforcement action.

A MoneySavingExpert.com user has become the "favourite neighbour" in his area after challenging his council tax band and getting a price reduction for him and 29 other apartments in his postcode. 

A new study at the London School of Economics and Political Science (LSE), funded by MoneySavingExpert.com founder Martin Lewis, will look to find solutions to unchain 170,000 'mortgage prisoners'.

Treasury Minister John Glen has said that he is willing to consider extending the limits of the financial regulator's powers to help more 'mortgage prisoners' who are stuck on expensive deals with unregulated lenders and lenders that no longer offer new mortgages.

Major mortgage lenders have shown "little desire" to help homeowners trapped on high interest rates by relaxing affordability rules, the financial watchdog has said.

A law firm is preparing a group legal claim on behalf of the UK Mortgage Prisoner Action Group and mortgage prisoners across the UK. If you're a mortgage prisoner, here's full info on what's happening and how you can take part.

The financial regulator has removed some barriers that stop mortgage prisoners from finding a cheaper deal – though many will still be left trapped.

Some ex-Virgin One mortgage customers are being refunded after a review found the information they were sent about the account could have been misinterpreted and may have led to them making decisions that could have cost them money – such as moving home or remortgaging.