what if I've already signed the letter of offer from the bank but loan agreement not signed yet? s&p all done.

need to find more money?

Besides benefitting a very specific group, the repercussions are wide ranging affecting the whole gravy train of suppliers, services & secondary vendors. Let's see how this capping of the LTV pans out in the next 6 months. I'm not convinced that those who have not bought are now capable or even interested to buy even with the crutch given. The move will only spell opportunity in crisis for cash rich investors besides the LTV cap to leverage on a softer market IMV.

Ditto dude! Margin flippers are going the way of the dinosaurs. They won't be able to offload their props quickly enough when the full brunt of their loans weighs in. Opportunity for cash rich vultures to pick off the weak & the sick in the market. Don't even think these opportunistic buyers will comprise of 1st time buyers. Those who were interested would already have bought, those who didn't, weren't interested in the first place, nor are they now, with or without the LTV cap in place. But without actual breakdown of the makeup i can only hazard a guess.