Central bank proposals and approval in principle

Kariba

Registered User
Messages
3
Hi
We have gone sale agreed in recent days on a property and have approval in principle from 4 banks. We have a 10% deposit and good affordability for repayments. After hearing the news regarding Central bank proposals, I am concerned that 10% deposit is now not enough. How does any change affect people who have already been approved? I intend to contact each of the banks who approved us individually however I was wondering if anyone had any thoughts?
Thanks

Edited to add: we are not first time buyers, have recently sold our property and have no debt.
 
We don't know what the new rules are, the central bank has not outlined them yet, they are not communicated to the banks and they apparently will not be in place until January.

And we don't know if the CB can enforce the rules.
 
Back
Top