Osborne warned over mortgages
George Osborne's Right to Buy mortgage scheme has been criticised as a "work in progress" that risks skewing the housing market at a huge cost to the Treasury.
Osborne warned over risk of Help to Buy scheme
George Osborne risks skewing the housing market at a huge cost to the Treasury with plans to boost home ownership through mortgage guarantees, a powerful committee of MPs has warned.
The Treasury committee warned the Chancellor's Help to Buy scheme is "very much work in progress" and may propel the Government as an active player in the market with a financial interest in maintaining house prices.
MPs warned a lenders fee structure the Government intends to put in place to cover the scheme's costs will be "extremely difficult" to price in a way that "sharply curtails Exchequer risk".
More top news
-
Joe Biden vows to fight racial inequality with economic agenda
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
-
Trump reverts to promoting unproven drug as coronavirus treatment
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
-
What the papers say – July 29
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.