Mortgages

Consumers will soon receive protection against "unscrupulous" firms who prey on troubled borrowers by buying their home at knock-down prices and charging them rent to stay.

Banks and building societies have hit savers by cutting rates in line with recent base rate drops. However, they've failed to cut borrowing rates accordingly, a report reveals today.

A government initiative to prevent struggling homeowners from losing their property only helped one borrower in April. This takes the grand total to just two since the Mortgage Rescue scheme was launched in January.

Property prices dropped in April across England and Wales, according to the Land Registry's latest figures.

House prices surprisingly rose in May, according to the Nationwide House Price Index.

The cost of living is now falling fast for some, according to one of the Government's two inflation measures released today.

Property repossessions are up by 50% compared to the same period last year, it was announced today.

Brokers insist some of the gloom for prospective mortgage applicants is lifting after Abbey reduced the minimum deposit required to get a homeloan.

The minimum wage will rise for most workers this October by 7p an hour to £5.80, it was announced today.

The Bank of England today announced it is holding the base rate at 0.5% for the second consecutive month.