Photograph: Chris Ratcliffe/Bloomberg/Getty Images
Mortgage reforms introduced after the 2008 banking crisis have “tilted too far” in support of financial stability to the point that first-time buyers are being excluded from the housing market, building societies have warned.
A report commissioned by the Building Societies Association has called for an overhaul of affordability and repayment rules, which they say have contributed to a steady decline in first-time buyer mortgages since the mid-2000s.
