Brendan Burgess
Founder
- Messages
- 52,177
From page 24 of the Consultation Document
This would suggest that anyone thinking of buying a house now who can't get the 20% deposit together, should apply for AIP now. You have nothing to lose.
However, the Consultation Document also says
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If a regulated financial service provider has entered into a Mortgage Offer (Sanction in Principle) commitment before the date on which the LTV/LTI limits come into effect, the limits do not apply to that commitment.
This would suggest that anyone thinking of buying a house now who can't get the 20% deposit together, should apply for AIP now. You have nothing to lose.
However, the Consultation Document also says
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[/FONT][FONT="][/FONT]While the regulations are not yet in place, regulated lenders are instructed to take account of the likely introduction of such a regime and to begin to adapt their lending practices already in anticipation of its introduction.
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