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MortgageBrokers.co.uk News

• Thousands 'face negative equity'
  Close to 150,000 homeowners who took out mortgages since early 2007 may face negative equity, research suggests.
  
  
• UK investors rescue B&B cash call
  Bradford & Bingley confirms that its plan to raise £400m has been rescued by a group of UK investors.
  
  
• Two lenders trim mortgage costs
  The Nationwide and Abbey are cutting their mortgage rates slightly - but mainly for those with large deposits.
  
  
• Mortgage squeeze 'will continue'
  The availability of mortgages will fall further in the next three months, lenders tell the Bank of England.
  
  
• New flats sold without mortgage
  Bristol developers sell luxury flats to cash buyers.
  
  
• New low for UK mortgage approvals
  The number of new mortgages being approved for house purchases has dropped heavily for another month.
  
  
• What the credit crunch means for you
  What effect has the credit crunch had on mortgages, savings, loans, current accounts and credit cards?
  
  
• House prices 'unchanged in May'
  House prices in England and Wales were unchanged in May and up 1.8% over the year, the Land Registry says.
  
  
• Countrywide investors back merger
  Shareholders at Countrywide Financial back a merger with Bank of America, as two lawsuits loom.
  
  
• Three mortgage firms raise rates
  Mortgage lenders Bradford & Bingley, First Direct and the Co-op Bank raise the cost of their fixed-rate home deals.
  
  
• Credit crunch has 'mixed' effect
  The global credit crunch is having a mixed effect on the Scottish economy, according to a new report.
  
  
• Two-year fixed-rate deals hit 7%
  Interest rates on the average two-year fixed-rate mortgage have now risen above 7%, according to Moneyfacts.
  
  
• Bank mortgage lending falls 20%
  Bank mortgage lending to house buyers fell by 20% in May to a record low, a banking group says.
  
  
• FBI promises more fraud arrests
  A senior FBI officer says more arrests will be made as part of its probe into mortgage fraud and the credit crunch.
  
  
• Figures show plunge in home sales
  The number of UK property sales has fallen by 32% this year, figures from HM Revenue and Customs show.
  
  
• How you are feeling the pinch
  Readers of the BBC News website have been giving their views about what is affecting their finances.
  
  
• FBI holds 406 for mortgage fraud
  The FBI says it has arrested 406 property market players as part of a crackdown on mortgage fraud.
  
  
• Bear Stearns ex-managers charged
  Two ex-managers at Bear Stearns bank are charged with fraud related to the collapse of two hedge funds.
  
  
• No let-up yet in mortgage squeeze
  Gross mortgage lending fell by another 2% in May, to push it 19% lower than a year ago, say mortgage lenders.
  
  
• Homes stressed over rising costs
  One in four households in London are depressed about the rising cost of housing, a charity says.