Congress will next month start the biggest regulatory overhaul of the US financial system in decades, bringing into the open a frantic lobbying effort between banks, regulators and policymakers on what it contains and who pays for it. The House financial services committee, chaired by Democrat Barney Frank, will hold hearings early in June into [...]

Sir Victor Blank will step down as chairman of Lloyds Banking Group before June 2010, in what could be the first move to restoring the bank’s credibility among shareholders after its much-criticised takeover of HBOS. Sir Victor decided to retire early in the face of a potential shareholder revolt against Lloyds management at next month’s [...]

The flow of lending for home buying in the UK picked up slightly in March from February, with a rising proportion of first time buyers entering the market, although the overall level of housing activity remains substantially below that in 2008. Data released on Thursday from the Council of Mortgage Lenders showed that 31,000 loans [...]

UK House prices continued their descent in March, although they fell more slowly in the first three months of this year than they did in the last quarter of 2008, the latest official data show. House prices in London in March showed the biggest single year-on-year decline of any region, falling 15.7 per cent, well [...]

As the struggling economy continues to cause turmoil in the mortgage industry, it can be tough to keep up with the constant changes. You never seem to get the full story from the television news or the newspaper, so it is critical to find a reliable source of information, especially if you are currently looking [...]

Borrowers on high incomes could see their ability to take out mortgage loans limited next year, following the introduction of a higher rate of income tax. Most banks now calculate how much they are willing to lend according to customers’ disposable income, rather than a multiple of their gross earnings. This means anyone who will [...]