Property Ladder: CML supporting reform
Essential news for the first time buyer
The Council of Mortgage Lenders says it is surprised that Shelter seems unaware that mortgage lenders support reform.
The CML was responding to the homeless charity’s YouGov survey on whether mortgage reform is needed.
Shelter's findings found that 87% of respondents agree that lenders should only give loans to borrowers who can afford it. CML agrees, and also that the three principles of affordability tests, income verification, and interest rate stress testing.