Fund criticises UK Help to Buy

THE CONTROVERSIAL mortgage guarantee scheme rushed ahead to this week could inflate property prices, according to a leading figure from the International Monetary Fund (IMF).

Jose Vinals, the IMF head of financial stability said that the housing market in the UK “is already recovering quite well”. On the Help to Buy scheme, Vinals added: “This may lead to even higher house prices which may reduce affordability of housing to the population.”