British PM David Cameron. Photo: Stefan Wermuth/ReutersBritish PM David Cameron. Photo: Stefan Wermuth/Reuters

UK Prime Minister David Cameron said yesterday he would consider changes to the government’s ‘Help to Buy’ mortgage guarantee scheme if advised to do so by the Bank of England.

The central bank is looking at new measures to control mortgage lending amid a shortage of home building, governor Mark Carney said in his strongest warning to date about the risks of a housing bubble.

“It is absolutely right that we are alert to any dangers and problems,” Cameron told BBC radio when asked about recent rises in house prices.

When asked if the government would consider changing the Help to Buy mortgage guarantee scheme to reduce its upper borrowing limit, Cameron said: “Of course. We will consider any changes that are proposed by Mark Carney.”

‘Help to Buy’ allows people to buy property worth up to £600,000 with deposits as a low as 5 per cent.

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