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Changes to mortgage scheme are considered
11:10am Wednesday 21st May 2014 in News
Prime Minister David Cameron has said he would consider making changes to the Government’s flagship Help to Buy mortgage scheme.
Bank of England governor Mark Carney recently signalled he is ready to take action to cool the housing market amid growing concerns over the threat that a new property price bubble could pose to the economic recovery.
Mr Carney said the Bank could adopt a range of measures – including imposing a new ‘affordability test’ for borrowers and advising the Government to rein in Help to Buy.
Asked on BBC Radio 4’s Today programme yesterday if he would consider bringing down the £600,000 Help to Buy threshold, Mr Cameron said: “Of course, we will consider any changes that are proposed by Mark Carney.
“But, as he said, this is a well-targeted scheme and it’s helped tens of thousands of people get on the housing ladder.”