The governor of the Bank of England, Andrew Bailey, has said he expects interest rates to fall gradually but warned consumers not to expect a return to near-zero levels.

Mortgage lenders' attempts to lure in first-time buyers have stepped up with the UK's biggest building society allowing some to borrow more.

Lower mortgage costs and more interest rate cuts could fuel a rise in house prices for the rest of this year, the Halifax has said.

The Bank of England's governor said a decision to cut interest rates is “an important moment in time” but warned people not to expect a sharp fall in the coming months.

People buying a house for the first time are spending about 37% of their take-home pay on mortgage payments, according to the Nationwide.

Several lenders are reducing their interest rates on new fixed mortgages on Friday, offering a glimmer of hope to hard-pressed borrowers.

Hundreds of thousands of homeowners have taken out mortgages in the last three years that they will still be paying off into retirement, estimates suggest.

Mortgage rates should fall following the Bank of England's decision to keep its key interest rate on hold, brokers say.

Some mortgage borrowers who only pay the interest on their loan are being "overly optimistic" about their ability to clear their final debt, data shows.

Halifax is set to sharply cut rates on some of its fixed mortgage deals, potentially easing pressure on some homeowners.

Customers at one of the UK's biggest housebuilders are taking out longer mortgages to make monthly repayments more affordable.

The number of mortgages approved in the UK for people buying a home rose sharply at the start of spring, Bank of England figures show.

Mortgage approvals fell to their lowest level in two years as interest rate rises put off buyers, new Bank of England figures suggest.

Mortgage rates continued to climb on Thursday, hitting their highest levels in 14 years, figures show.

Expanding Inverclyde-based property firm, Bowman Rebecchi has announced a new partnership with GPD Mortgage Solutions.