Business news live: Mortgage rules changed immediately and FTSE 100 starts above key threshold

The FTSE 100 had something of a rollercoaster on Monday but ended the day 0.23 per cent up.

That put it back above 9,000 points having breached that level last week a couple of times.

Record highs in stock market indices have been a regular theme of late – miners in particular helped the surge yesterday.

The Financial Conduct Authority has announced rule changes effective immediately regarding mortgages.

Among those, the FCA say it will mean people:

• Find it easier to reduce their mortgage term, helping to lower the total cost of borrowing and reduce the risk of repayment extending into retirement.
• More easily remortgage with a new lender, helping them access cheaper products.
• Be able to discuss options with their mortgage provider and get advice when they need it.

These chances are to “help people navigate their financial lives and support growth by ensuring more people can benefit from choice in the mortgage market and the security of homeownership.”

Good morning and welcome to The Independent’s live business coverage on Tuesday.

Coming up today, the usual mix of stock markets, mortgages, money, companies and more.