Cable Says Help-to-Buy Cut May Slow U.K. House-Price Escalation
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U.K. Business Secretary Vince Cable said “reining back” the government’s Help to Buy mortgage-support program may help slow “dangerous” house price inflation.
Bank of England Governor Mark Carney could recommend curbing the program, which allows people to buy a home valued at as much as 600,000 pounds ($1 million) with a 5 percent deposit, to help manage demand, Cable said. Carney warned on May 18 that housing prices pose the biggest risk to Britain’s economy.