Banks and building societies will face curbs on dipping into your savings to clear debts, under proposals from industry regulator, the Financial Services Authority (FSA).
Improvements in the mortgage market stalled during the second half of June as lenders remained cautious about the state of the economy, research indicated today.
Mortgage lenders have been banned from hitting borrowers behind on payments with punitive charges if they have already set up a payment plan to clear any arrears.
Interest rates have been kept on hold today as policymakers maintain their "wait-and-see" approach ahead of government plans to tackle the UK's deficit.