I think tighter regulation is tacking the symptom not the cause. Mortgage lenders have adapted to increasing house prices by
lending at salary multiples that mean that in hard times the borrower simply can't pay.
The problem that needs to be tackled is the house prices and the only possible answer must be to either reduce demand (build more social housing) or increase supply ( build more properties to buy) BUT that needs to take place on a par with postwar building and at prices that are more reflective of traditional borrowing levels of say 3x salary.
Unfortunately, we have a suitation where people ( myself included) are trapped in negative equity and couldn't sell at the price they need to pay back the mortage and without the movement at the bottom of the market, the first time buyer is locked out alltogether, whilst those struggling to pay are crying out for help.
It's all very well shelter and CAB, both of whom are very laudable charities, writing to the government abour regulation, but thay won't actually solve the problem of demand so far outstretching supply