Mortgages

The Bank of England put more emergency medicine for the UK economy on hold today, despite more evidence that the recovery is grinding to a halt.

Average house prices were only marginally lower last month than at the start of the year as the market remained stable throughout 2011, mortgage lender Halifax said today.

Borrowers who need cheap credit have been urged to consider snapping it up now in case costs soar and the chances of getting a credit card, loan or mortgage diminish.

Lenders and estate agents say the Government could have helped first-time buyers by extending their stamp duty 'holiday' in yesterday's Autumn Budget Statement.

The housing market has remained "surprisingly resilient" this month, Nationwide said today, as the average price of a property increased by 0.4% month-on-month.

Banking giant Santander claims it has turned the corner after a torrid past 18 months which has seen it consistently score poorly on customer service.

Competition in the mortgage market for customers with a deposit of just 10% increased today, as HSBC introduced a low-rate deal aimed at attracting first-time buyers.

Wannabe home buyers with small deposits who want a newly-built property will get a helping hand under a new Government scheme.

Housing Minister Grant Shapps recently called for lenders to offer 30-year fixed rate mortgages and received a barrage of abuse. Simon Webster, from mortgage broker Facts & Figures, below, says it wasn't all nonsense.

The Government will sell Northern Rock to Virgin Money, to create a combined bank with four million customers.