Shelter briefing - Public attitudes to mortgage reform

By: Nicola Hughes  Published: May 2011

Irresponsible mortgage lending can have devastating consequences. Every day Shelter advisers help families struggling to keep up with their mortgage payments. Some had little hope of ever repaying their loans in the first place and are now faced with the very real threat of homelessness. Reckless lending damages the economy too, contributing to unsustainable house price bubbles which freeze out new buyers and leave existing homeowners vulnerable to negative equity.


The Financial Services Authority (FSA), an independent regulator, has reviewed the mortgage market and exposed the past failures of lenders. It has proposed new regulations to try and prevent further crises. So far the regulator’s proposals have provoked heated debate, and concern that the rules will lock first time buyers out of the market. But what do the general public think – and do first time buyers agree?


To answer this, Shelter has undertaken a survey of over 2,000 people1 to find out if consumers - particularly first time buyers - support tighter regulation of mortgage lending.


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