if you stick to building regs then you can chase 1/3 of brick thickness. with load bearing walls you have a higher chance of cracks and movement due to the load especially if its the old black breeze (stuff from power station waste used in seventys) . you would not get away with anything deeper than 1/3 and 1/6 Horizontal if nhbc/buildings inspector is any good, but alot are not! LOL
i guess you have to use your own judgement, from job to job.
i guess you have to use your own judgement, from job to job.