Average rates for two-year fixed deals are now almost 6%
Rates are rising, with 55% fewer products available
Virgin Money and Skipton have paused lending until stability returns, while others have cut loans
Policy Exchange says years of paying rent on time should count towards mortgage
The 50-year mortgage would allow children to inherit the debt along with the property
Borrowers will no longer have to prove they can afford far higher interest rates
Pretax profit for the quarter was £2bn, above expectations of £1.3bn
Rise of lifetime mortgages has led to spike in lending to older homeowners
Homeowners faced enormous bills after quadrupling house prices caused debt to soar
Economists had expected a £3.1bn rise in mortgage borrowing, not a £1.4bn net repayment
House prices in the South have far outstripped incomes, putting homes out of reach of many