The average annual earnings of full-time workers in the UK rose by 1.4% to £26,500 in the year to April 2012. The figures have been published by the Office for National Statistics (ONS) in its annual survey of hours and earnings. There was a cut in the real value of pay, however, as inflation was higher during the same period, at 3.5%.

The major UK banks may need to raise more capital as protection against possible future losses, the Bank of England's Financial Policy Committee has recently warned.

New research from Yorkshire Building Society reveals that the number-one priority for first time buyers is neither local transport links or closeness to an array of restaurants but having their own garden. The findings however, reveal that the importance of some other features lessens once people actually settle in to their new home, suggesting that a compromise may pay off in the long-term for potential first time buyers. For example, while 36% of potential first time buyers looking for home mortgage finance see living near good public transport as key, it is far less of a factor for those who recently bought their first home at 26%, suggesting this is a compromise they actually made and didn't regret.

UK Debt management company MoneyPlus Group warns of a 'perfect storm of debt issues' that would be generated by any increase in mortgage costs and current mortgage rates. The Company has claimed that UK homeowners are putting off dealing with their debt problems as mortgage costs have remained relatively low in recent years, leading to fewer individual voluntary arrangements being taken out.

The number of UK mortgage brokers appears on the increase with the new figures from the FCA indicating that the number of firms advising on mortgages has increased. At the peak of the market in January 2006 3,533 primary mortgage firms were registered with the Regulator and this declined to 1,394 in March 2012.

Nationwide has doubled its lending to first time buyers in the first 6months of the financial year. In this time frame it lent £2.5 billion to 20,000 first time buyers, thereby not only doubling its lending to new buyers; but also nearly matching the 24,000 first time buyers it lent too all of last year.