'Cap mortgages at 90% and 3.5x income' | Mail Online
Banks and building societies should be banned from giving mortgages to borrowers with less than a 10% deposit, according to a think tank.
The Institute for Public Policy Research said today that lenders should keep their tough mortgage lending criteria in place to help prevent another house price bubble reinflating in the future.
Mortgages should be capped at 90% of a property's value, while people should also be prevented from borrowing more than 3.5 times their income, according to the IPPR.
The group said the UK had had four housing bubbles in the past 40 years, with these causing widespread damage to the economy.
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