A Prudential equity release study has recorded its lowest ever quarterly decline in equity values for homeowners aged 65 and over.

Fewer than half of mortgage advisers think business will improve in the last quarter of 2009.

Staff at Britain's state-backed lenders were dealt a double blow yesterday after Royal Bank of Scotland slashed the pension benefits of 62,500 workers and Lloyds Banking Group cut another 200 jobs according to the Telegraph.

Mortgage approvals for house purchase have risen to a 17-month high, according to the British Bankers' Association (BBA).

Borrowers are continuing to suffer as lenders remain reluctant to reduce the cost of fixed rate mortgages, according to Moneyfacts.co.uk.

The director of a Cornwall-based IFA has been slapped with a £17,500 fine for failing to tell the FSA about an employee's suspect methods and ethics.

Building societies are likely to suffer falling profits as interest rates remain low and credit losses mount, says accounting group KPMG.

A total of 80% of mortgage applications were approved in July, representing a 10% increase on the start of the year.

Gross mortgage lending rose 26% to £16bn in July compared to the previous month, according to the latest data from the Council of Mortgage Lenders (CML).

The Association of Mortgage Intermediaries (AMI) has urged caution over "unnecessary regulation" which it believes is unlikely to have the desired effect on the UK market.