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Interest rate cuts `were not anticipated by consumers` Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal

FSA looks into subprime mortgage practices

03/07/2007

Results of a review of the UK subprime mortgage market, which targets people with credit problems, are set to be released by the Financial Services Authority (FSA) on Wednesday.

The FSA said that it is increasing its focus on areas of the mortgage market, such as lifetime mortgages and the subprime sector, which are high-risk to consumers who may already have high levels of debt, Reuters reports.

Part of the FSA`s concern for customers is that rising house prices will encourage people to borrow against their property - putting them more at risk for debt problems in the property market slows.

In a meeting in May, Clive Briault said that parallels between the US and UK subprime mortgage markets could not completely be ignored.

Problems in the US subprime mortgage market have caused several financial problems in that country, including forcing some firms into bankruptcy protection.

The FSA regulates the financial services industry in the UK.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according