It says it will be addressing the problems of mortgage debt and access to mortgage finance. In particular, the inquiry will focus on households affected by the recession and struggling with mortgage arrears, as well as problems in accessing finance for first-time buyers.
The MPs are asking the mortgage industry to submit evidence on the current number of homeowners in mortgage arrears and forecasts for the trend in mortgage arrears over the medium-term the number.
It will be also investigating the characteristics of homeowners who have had their properties repossessed, the number in the process of having their homes repossessed, as well as forecasts for the trend in repossession levels over the medium-term.
The committee also wants to see evidence of treatment by, and the approaches taken, by mortgage lenders towards homeowners in arrears or at risk of repossession.
MPs, led by chairman John McFall, will also be investigating the impact of the credit crunch on access to mortgage finance. The deadline for evidence is July 1.