I don't have much commentary to add to this, except that it's big news.
If all the caveats added in the video about the lower level of leveraging are correct, then the doom-and-gloom predictions as to what might happen if house prices stop rising are unlikely to become true. My experience is that some borrowers at least have been able to get around rules requiring higher deposits through connections, and that rules may have been bent or broken. If this is so in a significant number of cases then we may be in for a rough ride - but it may not be so. It would certainly be good news for a lot of first-time-buyers if house prices were to fall.