Lenders have welcomed reports that regulators are considering relaxing mortgage rules to allow more first-time buyers to enter the housing market.
This could lead banks to lend more cash to buyers with higher loan-to-income ratios, and the affordability test could expand to include rental payments rather than just income. The Times reports that there is. 
Perenna CEO Arjan Verbeek said: “If reports are correct, too much regulation could harm rather than support consumer outcomes and in doing so, inhibit growth. “Regulators and governments may finally wake up to this fact.” . The mortgage market is a good example. ”
The move comes after Chancellor of the Exchequer Rachel Reeves called key regulators to a meeting yesterday to hear their views on how they plan to reduce the burden on businesses to boost UK growth. I was disappointed.
The first regular meeting included the Competition and Markets Authority, the Environment Agency and Business Secretary Jonathan Reynolds as observers.
One area expected to be considered is stress testing rules that limit the amount FTBs can borrow.
Currently, mortgage lenders are only allowed to lend 15% of their total mortgage 'loan book' to people with assets 4.5 times their annual income.
Another is to include evidence of previous rental payments in FTB's affordability test, rather than just income.
Lenders are also understood to be putting pressure on the Bank of England to reduce the amount of capital required as reserves for 90% loan-to-value mortgages in a bid to open up the market further.
Mr Reeves said some of the ideas the regulator had proposed were “promising” but he wanted “greater ambition and urgency to drive economic growth”.
Charles Roe, UK finance director for mortgages, told the newspaper: “The review of mortgage lending rules will improve affordability, not just for FTBs but also for those looking to move further up the housing ladder. It will help solve the problem.”
According to the latest statistics, mortgage delinquencies account for just 1.08% of the total mortgage balance for homeowners. Mortgage delinquencies and foreclosures are well below levels seen after the 2008 financial crisis.
The Financial Conduct Authority yesterday published a letter to Chancellor Keir Starmer and the Chancellor, saying it “looks to work together in fundamentally different ways to support the growth mandate”.
On mortgages, the city watchdog's CEO Nikhil Rati said: “We will simplify responsible lending and advice rules for mortgages, support homeownership, improve access to finance and levels of default. “We will start a discussion about the balance between the two.”
He said the agency would also “consult on removing mature interest-only mortgages and other outdated guidance” and “work with the Government to remove redundant standards” such as the Mortgage Charter. Then he added.
Perenna's Verbeek added: “The Bank of England should be commended for assessing what changes it can make based on the current state of the market. If we want to build a nation of homeowners, we need to risk risking the system. It is important to regularly review and revise regulations that prevent credit-worthy FTBs from being supplied to the market while protecting against them.
“The loan-to-income flow cap sticks out like a sore thumb. It acts as a brake in today's mortgage market, stopping credit from reaching those who would benefit most.”
Mark Hollands, Sales and Distribution Director at Bluestone Mortgages, said: For too long, lending rules have been so restrictive that getting on or climbing the property ladder has become out of reach for many people, provided they can afford the monthly repayments. I did.
“We look forward to further collaboration between the government and the mortgage industry to support the root causes of the housing crisis.
“This includes reducing the affordability pressures faced by prospective buyers and providing innovative solutions to help buyers get on the property ladder.”
