Sub-4% mortgages are re-emerging but Halifax says steeper house price falls are due
Wider tightening by banks causes loans to businesses to fall by 3.8%
Approvals were down 23% in December and are around half the five-year average
Almost 40% of purchases so far in January have been mortgage free
The rate has risen from just 30% a year ago, while in London it is closer to 67%
Economists were expecting 55,000 approvals in November, but new mortgages fell to 46,100
TSB has said it will not offer 90% mortgages over concerns that prices will fall 10% by 2024
The party wants a £3bn mortgage protection fund to protect families
Around 60% of loans have been withdrawn as banks scrap 95% products
Lenders have said they will still put up rates despite calmer markets
The bank is putting aside more cash to cover defaults as customers start to fall behind on payments
High loans mean payments will take up 25% of household income