The number of high loan-to-value mortgages has fallen sharply while lending criteria have become increasingly restrictive. The Committee emphasises that all lenders should improve their understanding of borrowers' ability to repay in order to correctly judge the affordability of a mortgage for every potential customer.
John McFall, Chairman of the Committee said: "First-time buyers play an important role in any housing market recovery. It is vital that more is done to improve access to credit for all credit-worthy first time buyers."
