The Council of Mortgage Lenders has snapped back at Consumers Association accusations that the mortgage code is not working.
The trade body for the lending industry claims it has made extensive progress since the launch of guidelines for self-regulation last year.
It also denies that lenders are not taking the mortgage code seriously.
An explosive Which? report rubbished the code after carrying out mystery shopping investigations last week.
Its findings showed that lenders were ignoring the code and failing to be upfront about whether they were offering advice or not.