Will the new mortgage questions effect house prices

longwalks1

As above, will the new 'harder to get' mortgages slow the rise in house prices over the next year or 2?

ontrack

Yes, possibly, no.
Being without a crystal ball your guess is as good as anyone's

getmore4less

Everyone has been saying that deposits are the problem not affordability.

If may even help as those that have the income to pay mortgages payments may be able to borrow as lenders will be more confident on the smaller deposits

dgtazzman

I think their might be a temporary dip over the next month or 2 as everybody gets used to the new system, but in the long run, I doubt MMR will have much effect on house prices. People that would get mortgages before MMR will still get them, but they might get 10-20k less than before. They'll still buy, just a slightly cheaper house than before.

I think it will just slap people in the face with the reality of what they can and can't afford.

There does seem to be some difference in the calculators. On Nationwide's the max amount they will loan us has gone down by around 7k compared to last November, on the Halifax calculator is has gone down by around 15-20k (depending on how creative I am with filling in the figures).

marathonic

Leeds Building Society have stated that they expect the new rules to impact 2.5% of applications.