I see what you mean. You are talking of a minority who may just...

I see what you mean. You are talking of a minority who may just scrape in to the banks criterior now.
There are always mortgages on the fringe, but banks are not as loose as prior to 2008.
I read recently that those with less than 20% deposits who get approved have a lower arrears rate than 20% deposit buyers.

You'll find people at this end will do anything to hold their homes, and I think it will be a long time before we get over 7% again. By then they have plenty of time to create buffers, so I don't see much risk in the current cycle of rates...ie may go lower before rising. Banks also calculate ability to pay much higher than current rates, so another buffer there.