Although the new HSBC Split Loan Mortgage is thought to be a very good product, it might prove too complicated to be fully successful, according to Paula John, the editor of Your Mortgage Magazine.

Five-year fixed mortgage deals are now at their lowest rate for 6 years with rates starting at 4.49%. This contrasts with 2 years ago when the best deals were over 5.5%. However, to take advantage of these deals, you do need to put down a sizeable deposit.

Gordon Brown believes that house prices in the UK will stabilize as more and more first time buyers try to get their first step on the housing ladder.

Figures released yesterday showed that mortgage lending increased by 24% in March to £11.5 billion.

The Council of Mortgage Lenders revealed on Tuesday that mortgage lending increased by 12% in February. A total of 35,000 mortgages were taken out during the month which is an increase of almost 50% on the same period last year.

Three quarters of a million houses are currently on the market but February sales were less than 10% (74,000) of that figure. That’s half the peak level that was reached in mid 2007.

A survey by the National Association of Estate Agents has found that 78% of respondents claimed that the main reason for selling their house was to enable them to purchase a larger property.

Since the stamp duty rate was cut first-time buyers seem to be returning to the housing market. Moneysupermarket.com has seen a 15% increase in the number of potential first-time mortgage customers and just over ¾ of visitors to the site thought the cut was fair.

The Residential Landlords Association believes that Alistair Darling missed a golden opportunity when he presented his budget last week.