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Lenders play it safe by sticking to low LTVs.
Byline: Joy Dunbar
Credit rating agencies and the FSA's stress-tests are putting lenders off offering high loan-to-value mortgages, according to the Building Societies Association.
Adrian Coles, director general of the BSA, told the Treasury select committee that lenders had to take account of the views of outside agencies because if lenders were downgraded by credit rating agencies it could hit them hard.
The committee is undertaking an inquiry into mortgage arrears and access to mortgage finance - the British Bankers' Association, Council of Mortgage Lenders, National Landlords Association and Intermediary Mortgage Lenders Association all gave evidence on Tuesday morning.
Mr Coles said: "If you are lender who has done a fair amount of higher LTV lending and ...
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