The financial watchdog has invited industry views on whether competition is hampering Britain's mortgage market.

The Financial Conduct Authority (FCA) issued a "call for inputs" to help it identify areas where competition "may not be working well and could be improved".

Of interest are the current regulations and whether they act as a "barrier to entry, expansion or innovation" in the mortgage space.

Last year, the Mortgage Market Review was launched to help crack down on irresponsible lending by making it harder to buy with a tiny deposit and also prevent borrowing vastly more than a customer's income.

The FCA also wants to hear back about the conduct of firms, and customers' ability to access information about mortgage products and services.

Parties have until December 18 to submit their views. If the watchdog decides further action is needed, it will issue a "feedback statement" in the first quarter of 2016.

FCA competition and strategy director Christopher Woolard said the submissions could help shape any future competition market study.

"For millions of consumers a mortgage is one of the biggest, if not the biggest, financial transaction they will enter into in their lifetime.

"The mortgage sector also plays a vital role in the financial services industry and many areas of the economy.

"Competition can play a key role in ensuring that the sector works well, delivering consumer benefits through lower prices, better customer service and more product choice.

"We are seeking stakeholders' views on competition in the mortgage sector. These views, together with evidence from the FCA's wider programme of work on mortgages, will help inform any future FCA work on this key sector of the economy, including any future competition market study."