The former chairman of HBOS, Sir James Crosby, has put together a report predicting another two years of stagnation in the mortgage market, reports The Thrifty Scot.

He believes there will be further problems ahead for those looking to take out a first mortgage and for those seeking a remortgage deal.

This will have particular resonance for anyone seeking a remortgage quote who has only a small amount of equity in their property.

While the recent £50 billion government mortgage rescue plan has been put into effect, this is likely to take a while before it frees up lenders and consumers alike.

Remortgage Deals - we compare the market to find you the best remortgage rates.