I am just putting this out here: The new rules that are coming in October are NOT targeting 1st time home buyers. It is targeting anyone who is applying for a mortgage. The government (taxpayer) back the banks to give out mortgages, we have to safe guard ourselves against reckless lending which has taken place, so if you don't meet the criteria then you CAN'T afford the home, and you can't walk away leaving us holding the bag as a taxpayer. What is wrong with this new rule?