# 2010 mortgage rules



## s2kpaul (Jul 27, 2006)

Out of intrest but does anyone know the new mortgage lending rules that came in this year ?


----------



## cloudnine (Jun 3, 2009)

You need at least 25-30% deposit. Strangely when i took out my mortgage last december they didn't check my income. Probably not the answer you want.


----------



## Estoril-5 (Mar 8, 2007)

really atleast 25% deposit? i see the housing market coming to a standstill if thats the case.

im pretty sure it isnt though.


----------



## s2kpaul (Jul 27, 2006)

nah it 10% but there was new rules on lender critieria.


----------



## Estoril-5 (Mar 8, 2007)

house prices wil still fall then, as supply and demand, less buyers and all that.


----------



## Keir (Aug 31, 2010)

If that's true, roll on new 4-5 bedroom house with garage


----------



## Estoril-5 (Mar 8, 2007)

^ will you have a 25% deposit plus enough money to support payments?


----------



## Keir (Aug 31, 2010)

depends how much the prices fall by.


----------



## Rob_Quads (Jul 17, 2006)

I don't think prices will fall much more unless people get made redudant why...

Out of the 5 people I know that have houses on the market. 4 would like to move and so have it on the market. But if it does not sell they will stay put. The one that is left is looking to just rent it out instead because the rental market is quite good at the moment.

Most people selling houses don't 'need' to sell the house and so they will just stay where they are rather than sell for less money.

As said the major reason that would trigger house sales if people loose jobs and can't afford mortgages.


----------



## s2kpaul (Jul 27, 2006)

http://www.fsa.gov.uk/pubs/discussion/dp09_03.pdf

found the rules lol nothing to do with deposits however atm big deposits are useful


----------

