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Paul Winter: increasing house prices

Paul Winter comments, “I welcome Mark Carney’s warning over the weekend that house prices pose a serious risk to the economic recovery both in the short and longer term. Since our AGM in March I’ve been warning that Help-to-Buy risks artificially inflating house prices and creating a housing bubble in London and the South East. Government urgently needs to address supply, accept the private sector will never fully meet demand and get moving with a nationwide house building programme.”

“Mortgage supply is continually used by Government as a fiscal tool to trigger growth, not only is this a short term fix but it causes longer term damage to our economy. Mark Carney’s scrutiny of high loan-to-value mortgages is symptomatic of that, let’s not write off high loan-to-value mortgages where applicants have passed stringent affordability checks, but instead focus on the actual cause of the problem, a lack of housing supply.”

Ipswich, Monday 19 May

Your home may be repossessed if you do not keep up repayments on your mortgage.