Gordon Brown today claimed that a decade ago, in Harvard, he had called for better regulation of the financial markets to avoid future credit problems.
Thanks to the collapse of confident lending between banks, it is now a struggle to obtain secured loans, and bad credit mortgages are perhaps the most difficult to find.
Mr Brown, however, [...]

Several mainstream lenders cut the prices of their mortgage deals last week.
NatWest/RBS, Alliance & Leicester and Abbey all reduced the prices of their two-year fixed rate deals, although high loan-to-value ratios remained.
This may indicate the start of a slow return to stability, and a knock-on effect could be greater ease in securing bad credit mortgages.

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Nationalised bank Northern Rock has been allowed by the government to slow down repayments of its £26 billion loan.
This represents a change of plan for the struggling bank, which previously advised customers to try and switch to another bank.
Now, the bank can afford to keep its customers, allowing them to remortgage with Northern Rock [...]