Mortgages: your questions

Paula John, Ray Boulger and Louise Cuming

BBC Radio 4's Money Box Live

Wednesday 4 November at 1502 GMT On BBC Radio 4 and Online

Listen to the programme

Programme transcript (18 pages)

On Wednesday's programme Vincent Duggleby and guests answered your questions about mortgages.

There are signs that the housing market is picking up from the slump. Lending is continuing to rise and there's more choice of mortgage products available - for those with big deposits or equity in their homes.

However there are big changes on the horizon. The City watchdog the Financial Services Authority (FSA) wants lenders to apply tougher mortgage affordability tests.

Mortgage applicants will have to detail their expenditure, right down to their monthly spend on culture, alcohol and tobacco to prove they can afford the repayments.

The watchdog also wants a ban on self-certification mortgage applications. So where does all this leave people considering buying a property?

If you need help obtaining a mortgage or want the latest advice, you can talk to a panel of experts on Wednesday's Money Box Live.

How much can you borrow and what sort of deposit will you need?

Is now a good time to opt for a fixed rate mortgage or a tracker?

If you're self employed or on a low income how can you satisfy lenders you can afford the mortgage repayments?

Money Box Live presenter Vincent Duggleby was joined by: