More needs to be done to encourage responsible lending in the mortgage sector, one group has emphasised.
The Council of Mortgage Lenders (CML) is calling on the Financial Services Authority (FSA) to put together a comprehensive guide to lending rules, as well as analysis of what impact they will have.
Director-general of the CML Michael Coogan commented: "The FSA, like the industry, needs to have a clear steer from the coalition government about what type of regulatory structure is needed to support housing policy and deliver systemic stability in the mortgage market."
He suggested that responsible borrowers should have free access to the market, while a safety net needs to be in place for those who may face difficulties making repayments.
Paragon Mortgages reported earlier this month that almost half of all brokers reported an improvement in the availability of buy-to-let mortgages during the third quarter of 2010. |
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