The Council of Mortgage Lenders (CML) has welcomed the Financial Conduct Authority’s (FCA) call for inputs, launched today, on competition in the mortgage sector.

The CML said it sees this as an excellent opportunity for the regulator to review the effect of regulation, as well as market practice, on lenders as well as their customers.

“The FCA’s role in promoting competitive markets is the part of regulation that best helps foster creativity, innovation and a sharp focus on what drives customers,” said CML director general Paul Smee.

“It’s also essential in delivering the kind of environment in which reputable lenders of all shapes and sizes can thrive. We will be working with all our members to ensure that their perspectives are fully reflected as we work with the FCA on this vital issue.”